SANTA MONICA, Calif.--(BUSINESS WIRE)--Ontrak, Inc (NASDAQ: OTRK) (“Ontrak” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized healthcare company, today announced a new Master Services Agreement with Sentara Healthcare for the expansion of its Ontrak program for Optima Health members. This expansion ensures that all eligible Medicare and Medicaid members of the health plan will have access to critical behavioral healthcare.
“We place a high value on evidence-based care programs for our members, especially those with diagnoses that often go untreated,” said Dr. Gregory Merti, Medical Director of Optima Health. “We look forward to expanding our partnership with Ontrak to deliver better health outcomes during this time of unprecedented need.”
Jonathan Mayhew, CEO of Ontrak, stated, “We are proud to have been selected by Optima Health to provide integrated clinical and behavioral health services that transform healthcare in the communities that they serve. Individuals with chronic illness have a high likelihood of having a concurrent mental health disorder. It’s hard for them to be physically well, when they are not mentally well. The positive clinical outcomes of our OntrakTM Behavioral Health System of individual, person-centered care in Optima Health commercial pilot markets combined with a savings rate of 43% resulted in a significant ROI which prompted this progressive health plan partner to expand our program to all of their Medicare and Medicaid members.”
In a recent Kaiser Family Foundation tracking poll, 46% of adults over the age of 65 reported that COVID-related worry and stress had a negative impact on their mental health. SAMHSA reports that those over 65 are also less likely than younger adults to seek treatment for mental health conditions. History has shown that the mental health impact of disasters outlasts the physical impact, and psychological distress can last up to 3 years after an outbreak. Ontrak’s new “Treatment Effect Study” found that the Ontrak program produces a lasting impact 24 months after enrollment.
The Ontrak program is especially effective where the disease burden is greatest in high acuity, chronic care populations whose physical health is impacted by unaddressed mental health issues.
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 payors.
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.
A landmark behavioral health study, “Treatment Effect of the Ontrak Program,” found that Ontrak’s program produces a statistically significant reduction of 64% in inpatient hospitalizations within the treatment group of individuals with untreated behavioral health needs and medical comorbidities. The program also resulted in an increase in utilization of preventative behavioral healthcare office visits. The savings for members who completed the 12-month program were statistically significant and notable at $486 per member per month, which equates to a savings of nearly $12,000 per member over two years, post enrollment. The cost for all-cause health office visits rose $110 per member per month, a positive change indicating uptake of productive, preventive care and fewer costly and avoidable inpatient hospitalizations. Advisors to the Ontrak research team led by Dr. Hilary Placzek include Robert M Kaplan, faculty member at the Stanford School of Medicine Clinical Excellence Research Center (CERC) and Jill Glassman PhD, Biostatistician and Senior Center Manager of Quantitative Analysis at the Stanford School of Medicine Clinical Excellence Research Center (CERC).
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 payors.
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. 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.