Expands Ontrak Behavioral Health Network from
12,000 to more than 15,000 Providers
Ontrak Seeks to “Close The Loop” Through
Integration of Payer, Provider and Member Analytics
Ontrak, Inc. (NASDAQ: OTRK) (“Ontrak” or the “Company”),
a leading AI-powered and telehealth-enabled, virtualized healthcare
company, today announced a national contract with LifeStance
Health, one of the nation’s largest providers of outpatient mental
health care. As part of the relationship, LifeStance Health will
leverage Ontrak’s leading analytics and patient engagement platform
to address behavioral health comorbidities that contribute to poor
outcomes and unnecessary healthcare spending.
“Our health plan customers urgently need access to quality
behavioral health providers for their members,” stated Terren
Peizer, Ontrak Chairman and CEO. “Our new relationship with
LifeStance Health is intended to address this customer need for
members of our Ontrak program through the addition of more than
3,000 behavioral health clinicians, both virtually and in-person at
370 centers nationwide. This gives us a total of more than 15,000
contractual relationships with behavioral health providers across
our entire network which, to our knowledge, constitutes the largest
behavioral health specialist network in the country. At Ontrak we
know that connecting members with behavioral clinical experts for
rapid assessments and diagnosis is critically important, but it’s
not enough. Payers and primary care physicians are too often in a
position where they do not know whether their patients have
received treatment. We are working to 'close the loop' by
developing solutions intended to make the member’s clinical journey
transparent to the member, their provider and their PCP over time,
and believe this expanded relationship is a key part of such
efforts.”
“At LifeStance Health, we’re focused on increasing access to
mental health services and reducing the barriers to care
nationwide,” said Michael Lester, CEO, LifeStance Health. “We
couldn’t ask for a better partner in Ontrak to help support our
mission, and we look forward to working together as LifeStance
continues to expand its national footprint.”
Ontrak heightens engagement through a coordinated approach in an
effort to ensure that member progress and behavioral health
clinical notes are visible to the member’s Ontrak team. Ontrak care
coaches coordinate each member’s care across interventions and
providers. In 2020, Ontrak members rated Ontrak contracted
providers with a Net Promoter Score of 71.
About Ontrak, Inc.
Ontrak, Inc. (f/k/a Catasys, Inc.) is a leading AI and
telehealth enabled, virtualized healthcare company, whose mission
is to help improve the health and save the lives of as many people
as possible. The company’s PRE™ (Predict-Recommend-Engage) platform
predicts people whose chronic disease will improve with behavior
change, recommends effective care pathways that people are willing
to follow, and engages people who are not getting the care they
need. By combining predictive analytics with human engagement,
Ontrak delivers improved member health and validated outcomes and
savings to healthcare payers.
The company’s integrated, technology-enabled Ontrak™ programs, a
critical component of the PRE platform, are designed to provide
healthcare solutions to members with behavioral conditions that
cause or exacerbate chronic medical conditions such as diabetes,
hypertension, coronary artery disease, COPD, and congestive heart
failure, which result in high medical costs.
Ontrak has a unique ability to engage these members, who do not
otherwise seek behavioral healthcare, leveraging proprietary
enrollment capabilities built on deep insights into the drivers of
care avoidance.
Ontrak integrates evidence-based psychosocial and medical
interventions delivered either in-person or via telehealth, along
with care coaching and in-market Community Care Coordinators who
address the social and environmental determinants of health,
including loneliness. The company’s programs improve member health
and deliver validated cost savings to healthcare payers of between
40 and 50 percent for enrolled members.
Learn more at www.ontrak-inc.com
About LifeStance Health
Founded in 2017, LifeStance Health is one of the nation’s
largest providers of virtual and in-person outpatient mental health
care for children, adolescents and adults experiencing a variety of
mental health conditions. The company delivers personalized,
data-driven and comprehensive care to help patients stay healthy
and employs over 3,000 psychiatrists, advanced practice nurses,
psychologists and therapists. LifeStance Health currently operates
across 27 states and over 370 centers. To learn more, please visit
www.LifeStance.com.
Cautionary Note Regarding Forward-Looking Statements
Except for statements of historical fact, the matters discussed
in this press release are forward-looking and made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements reflect numerous
assumptions and involve a variety of risks and uncertainties, many
of which are beyond our control, which may cause actual results to
differ materially from stated expectations. These risk factors
include, among others, changes in regulations or issuance of new
regulations or interpretations, limited operating history, our
inability to execute our business plan, increase our revenue and
achieve profitability, lower than anticipated eligible members
under our contracts, our inability to recognize revenue, lack of
outcomes and statistically significant formal research studies,
difficulty enrolling new members and maintaining existing members
in our programs, the risk that treatment programs might not be
effective, difficulty in developing, exploiting and protecting
proprietary technologies, intense competition and substantial
regulation in the health care industry, the risks associated with
the adequacy of our existing cash resources and our ability to
continue as a going concern, our ability to raise additional
capital when needed and our liquidity. You are urged to consider
statements that include the words "may," "will," "would," "could,"
"should," "believes," "estimates," "projects," "potential,"
"expects," "plan," "anticipates," "intends," "continues,"
"forecast," "designed," "goal," or the negative of those words or
other comparable words to be uncertain and forward-looking. Forward
looking statements may include statements regarding our proprietary
IP and technological innovation allowing us to identify, engage,
and create lasting behavior change in the lives of those with
unaddressed behavioral health conditions and chronic disease. For a
further list and description of the risks and uncertainties we
face, please refer to our most recent Securities and Exchange
Commission filings which are available on its website at
http://www.sec.gov. Such forward-looking statements are current
only as of the date they are made, and we assume no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210401005221/en/
Investors: Caroline Paul
Gilmartin Group investors@ontrak-inc.com
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