Purpose-Built Solutions for Fraud Detection & Prevention
Purpose-Built Solutions for Fraud Detection & Prevention
Consumer fraud has escalated steadily over the past decade, impacting more and more public sector agencies each year. This surge in fraud causes more than financial harm – it damages public trust in government.
Voyatek delivers purpose-built solutions that leverage advanced analytics, artificial intelligence, and machine learning to help agencies keep pace with the fast-changing tactics of criminals engaged in fraud. Across health and human services, tax and revenue, and higher education, Voyatek protects taxpayer dollars and ensures families receive the financial assistance they need.
An Outcome-Driven Approach to Medicaid Fraud Prevention
Voyatek’s solutions, coupled with our expertise in supporting health and human services programs, have enabled our clients to recover millions in fraud and exponentially improve service delivery.
Case Study: California’s Medi-Cal Program Integrity Data Analytics (MPIDA)
California’s Medi-Cal program is the country’s largest and most complex Medicaid program, providing healthcare services to over 13 million beneficiaries. To support the program’s mission of protecting taxpayer dollars, Voyatek provided a predictive analytics solution that detects and flags suspicious or fraudulent billing behavior based on a variety of factors, including billing patterns, history of prior fraud, ongoing litigation, and affiliation with other suspect providers or beneficiaries. Upon completion, the project generated over $45 million in ROI.
Outcomes Delivered
$45 million in ROI generated from savings, cost avoidance, recoupment, and sanctions.
Closing the Tax Gap with Data-Driven Fraud Prevention
The annual Tax Gap in the United States is approaching $500 billion. To recoup as much revenue as possible, agencies rely on Voyatek’s multifaceted, data-driven fraud prevention services and solutions
Case Study: Maryland Comptroller (MD COM)
Voyatek has helped MD COM improve fraud program operational efficiency by implementing analytics and data visualization tools that optimize investigation and adjudication.
Voyatek’s solutions have prevented 92,000 fraudulent refunds since 2015, totaling over $91 million, with virtually no disruption to timely processing of returns. In the same period, less than 1.5% of all filings were suspended, allowing for speedy processing of more than 12 million returns and $10.7 billion in refunds.
Outcomes Delivered
Prevented $91 million in fraudulent refunds.
Case Study: Internal Revenue Service (IRS)
Voyatek has developed risk-scoring models used by the IRS to evaluate more than 100 million tax returns each year. In addition to increasing revenue collection, Voyatek’s machine learning models alert stakeholders about newly identified schemes, emerging threats, and other fraud that has evaded existing detection methods. As a result, the IRS has stopped more than $10B in fraudulent refund payments and seen a 70% decline in identity theft, with 95% of observable identity theft prevented.
Outcomes Delivered
More than a 70% decline in identity theft.
-Voyatek Leadership Team
