Ontrak Extends 6 Year Business Partnership With Health Alliance Medical Plans for Commercial and Medicare Business
April 07 2021 - 8:00AM
Business Wire
Ontrak, Inc (NASDAQ: OTRK) (“Ontrak” or the “Company”), a
leading AI-powered and telehealth-enabled, virtualized healthcare
company, today announced the signature of an updated contract with
Health Alliance Medical Plans (“Health Alliance”). The contract
extends the partnership with Ontrak that began in 2015 to ensure
that Commercial and Medicare members of the plan have access to
critical behavioral healthcare.
Dr. Chester Ho, Chief Medical Officer of Health Alliance Medical
Plans, stated: “Health Alliance and Ontrak have built a strong
partnership that is deeply rooted in member outcomes, teamwork, and
partnership. They have proven that the Ontrak program works to make
a difference for those vulnerable members with both behavioral
health and chronic medical conditions. I look forward to seeing
what else we can create together for our members and continue being
one of Ontrak’s innovation partners of choice.”
“We are honored to continue our 6-year partnership with Dr. Ho
and his team at Health Alliance,” said Terren Peizer, Ontrak
Chairman and CEO. “As pioneers in the behavioral healthcare market,
we focus on identifying and engaging those who are most reluctant
to seek care and least likely to sign up for a self-help app. In a
2020 Milliman study those with untreated behavioral health
conditions and chronic disease represented 5.7% of the total
population and 44% of total healthcare costs. This vulnerable
population of “overlooked patients” are our focus and the cost
savings for Health Alliance Medical Plans are consistent with the
40-50% cost reduction results that we see across our book of
business. We are delighted to be able to provide much needed
behavioral healthcare and lasting clinical outcomes for Health
Alliance Commercial and Medicare members.”
OntrakTM solutions for substance use disorder, depression and
anxiety are well aligned to the new environment for delivering
quality healthcare, because they are telephonic and staffed by a
nationwide virtual network of employee Member Engagement
Specialists and Care Coaches combined with one of the nation’s
largest telehealth networks of behavioral health and medical
providers.
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 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
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/20210407005304/en/
Investors: Caroline Paul
Gilmartin Group investors@ontrak-inc.com
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