TRENDS IN ADVANCED DATA ANALYTICS – 3 CPE CREDITS

Fed by increasing, sophisticated innovations by industry leaders, the science of data analytics as applied to fraud identification has allowed for an almost total automation of the entire fraud investigation cycle.  Increasingly fraud scenarios are pinpointed, investigated, referred for prosecution, feed-backed to the system and the cycle started all over again with a modicum of fraud examination and prosecutorial effort.  Cases are built from analytical procedures and presented to the authorities ready for prosecution.

As an example right here in Virginia, the State Medicaid agency employs finance analytics to streamline recovery of improper payments. This capability ultimately allows the agency to isolate internal control and process weaknesses and substantially reduce improper payments. After converting unstructured and discordant data to an enterprise standard, this organization is then able to evaluate its program portfolio against revised strategic objectives, reallocating investment funds from lower performing or misaligned activities in a continuous cycle of ever more accurate fraud detection and elimination.

The stark realities of today’s fiscal challenges at all levels of business, private and public,  and the need to address service delivery expectations have raised the stakes for managing the cost of doing business and winning the war against fraud, waste and abuse. Today’s managers should want to be on top of problems before they become significant, and the strategic use of data mining tools can help them manage and protect their enterprises and save money.

In looking to the future, organizations need to both retain and build on past successes and more fully leverage technology through the smart use of data mining and other analytic tools as aids in day-to-day management and longer-term decision-making. The fraud examination and audit community can also play an important role in assisting program managers to effectively and efficiently adopt data mining tools as an integral part of the management process.

By attending this special RVACFES-ACFE Chapter event, you will be introduced to the latest, cutting edge analytic technologies presented by an industry leading on the firing line of the latest developments!  But hurry, our VASP Training Academy space is limited to just 45 attendees at which point we will close the event … so register today and secure your place at this very informative free  event!

 The June 18th Agenda

–Survey of the State & Methodology of Modern Data Analytics
–The Comprehensive Analytical Approach to the Identification of Fraud,     Waste & Abuse
–Using Data Analytics to Detect & Prevent Fraud
–The Never Ending Cyclical Approach of Advanced Analytics

About Our Speaker

• Kevin Jones is Director of Fraud Operations for Health Management Systems Corporation (HMS) one of our nation’s oldest concerns dedicated to the detection and prevention of fraud through application of advanced mathematically based techniques to the data of a host of Fortune 500 companies and State and Federal governmental agencies.   Kevin heads the HMS Special Investigations Unit specializing in insurance and health care fraud involving State Medicaid, managed care, private insurance companies.  Prior to joining HMS Kevin was employed by the Medicaid Program of the State of Ohio as State Program Integrity Director; he has over 25 years of fraud examination and investigation experience.
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  Please open the following link and read the document entitled ‘Data Mining and Analytics’ prior to the Event for a full Event CPE Credit:
  Data Mining & Analytics