SANTA MONICA, Calif.--(BUSINESS WIRE)--Catasys, Inc. (NASDAQ: CATS) (“Catasys” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized outpatient healthcare treatment company, today announced that its more than 500 employees have chosen to fund the programs of 26 non-profit partner organizations who actively serve OnTrakTM communities to treat the whole health of individuals.
Mr. Terren Peizer, Chairman and CEO of Catasys, stated, “No corner of our society has been left untouched by the COVID-19 pandemic, including the non-profit sector. Last month’s Charity Navigator and Reuters News survey of non-profits found that 83% reported financial hardship and 64% reported cuts in their programs. Every day our Catasys Care Coaches and local Community Care Coordinators partner with non-profit organizations to ensure that OnTrak members have access to the critical resources needed to address social determinants of health. The survival of non-profits impacts access to food, shelter, healthcare and human connection, and long lines at food banks only heighten the anxiety levels of our members.”
Mr. Peizer continued, “Our mission is to help improve the health and save the lives of as many people as possible. There is no better time than Mental Health Awareness Month to further that mission by helping the non-profits whose fundraiser events and volunteers have largely evaporated due to ‘shelter in place’ mandates during the COVID-19 pandemic. As the World Health Organization’s Devora Kestel recommended in the May 14, 2020 report, ‘Substantial investment needed to avert mental health crisis’, we must build ‘the human resource capacity to deliver quality mental health and social care in the community.’”
About Catasys, Inc.
Catasys, Inc. is a leading AI and telehealth enabled, virtualized outpatient healthcare treatment company, whose mission is to help improve the health and save the lives of as many people as possible. Its Catasys PRETM (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 aren’t getting the care they need. By combining predictive analytics with human engagement, Catasys delivers improved member health and validated outcomes and savings to healthcare payers.
Catasys’ integrated, technology-enabled OnTrak solution, a critical component of the Catasys PRE platform, is designed to treat 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.
Catasys 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 program improves member health and delivers validated cost savings to healthcare payers of more than 50 percent for enrolled members. OnTrak is available to members of leading national and regional health plans in 31 states and in Washington, D.C.
Learn more at www.catasys.com.
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. 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.