Ontrak, Inc. (NASDAQ: OTRK) (“Ontrak” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized outpatient healthcare treatment company, today announced that Health Alliance Medical Plans (“Health Alliance”), a provider-sponsored health insurer that covers 250,000 members (spanning Medicare Advantage, Commercial and Individual) in IL, IA, IN, OH and parts of WA, reports that the Ontrak program has delivered a 2.5x ROI and a 41% reduction in medical costs (which averaged $28,000 pre-enrollment). The cost reductions have been driven primarily through declines in both inpatient admissions (68%) and emergency department visits (43%). The demonstrated cost savings for Health Alliance Medical Plans are consistent with Ontrak’s 40% – 50% cost reduction results across its book of business.
Dr. Ho, CMO of Health Alliance, noted in the webinar which was presented through American Health Insurance Plans (“AHIP”), that he is a “tough grader” and meets regularly with Ontrak to review program effectiveness. To date, Health Alliance has partnered with Ontrak to offer the program to its fully insured members. Dr. Ho indicated that his organization was now beginning to explore how to expand the Ontrak program to its self-insured (ASO) base.
When the partnership began 5 years ago, Health Alliance had members with chronic disease that had unmet secondary behavioral health needs that kept them from engaging in programs from Health Alliance or its providers. Dr. Ho said that he realized that improving member engagement and follow through on clinical programs and their provider interactions was key. “Really looking at the engagement, there’s no doubt that you’ve proven to me that the program works,” said Dr. Ho in the webinar.
Ontrak’s engagement rate has been 26% of the ~3% of Health Alliance lives that meet the program’s eligibility criteria. A case study presented during the webinar indicated that the average enrolled member spent seven months in the program, 43% “graduated” and the member net promoter score (NPS) for the program as a whole was 75. Ontrak members typically rate their Care Coaches even higher at an average NPS of 83.
To access a replay of the “CMO Roundtable: Overcoming Barriers to Behavioral Health Engagement” webinar, please visit: https://www.ontrak-inc.com/cmo-roundtable-ontrak-and-health-alliance
About Ontrak, Inc.
Ontrak, Inc. (f/k/a 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. 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 aren’t 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™ solutions, a critical component of the PRE platform, are 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.
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 more than 50 percent for enrolled members. Ontrak solutions are available to members of leading national and regional health plans in 30 states and in Washington, D.C.
Learn more at www.ontrak-inc.com
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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.