Ontrak Announces New Contract with Large Northeast Regional Health Plan

August 08, 2024 at 08:00 AM EDT

Ontrak, Inc. (NASDAQ: OTRK), a leading AI-powered and telehealth-enabled behavioral healthcare company announced the signing of a 2-year strategic partnership with a large, regional health plan in the Northeast, aimed at delivering a proactive, predictive and personalized behavioral health solution to its members in New York with chronic comorbidities and unaddressed behavioral health conditions.

Ontrak Health will provide this new customer with its WholeHealth+ solution, which uses advanced data analytics and risk assessment tools to identify high cost, complex members with chronic comorbidities and underlying, but unaddressed behavioral health conditions. Once identified, members are proactively engaged through a unique blend of human interaction combined with augmented intelligence and offered personalized care coaching support. Its Advanced Engagement System, coupled with an evidence-based clinical model, provides care coaching tailored to each member’s specific circumstances including behavioral health provider visits, as needed, and is designed to improve clinical outcomes and produce significant cost savings.

Ontrak expects its current outreach pool of eligible members to approximately double with the initial addition of this health plan’s eligible members in multiple lines of business within New York only, including Medicaid, HARP, (a New York State-sponsored Health and Recovery Plan), and Commercial HMO.

In addition, Ontrak Health will provide this new customer with its Engage solution, a coaching-specific alternative for members not eligible for WholeHealth+ who would benefit from ongoing care coaching to help them address physical and behavioral health challenges, and social needs without the need for provider intervention.

Mary Lou Osborne, President and Chief Commercial Officer of Ontrak Health, expressed enthusiasm, "We are excited to partner with this new health plan customer for Ontrak in offering whole-person behavioral health care designed to support members through their health care journey. Together, we aim to make a meaningful impact on the lives of members by providing personalized, evidence-based care, addressing members’ unique behavioral health needs."

Brandon LaVerne, Chief Executive Officer of Ontrak Health, added “I am thrilled to announce our strategic partnership with one of the leading Northeast regional health plan providers for their members in New York. This agreement marks a significant milestone for Ontrak Health as we work together to enhance access to comprehensive behavioral health care services for thousands of individuals across the region. Together, we are working collaboratively towards a launch of Ontrak Health’s solutions for this plan’s eligible members within 60 days.”

About Ontrak Health

Ontrak Health (NASDAQ: OTRK) is a leading AI and telehealth-enabled behavioral healthcare company, whose mission is to help improve health and save the lives of as many people as possible. Ontrak identifies, engages, activates, and provides care pathways to treatment for the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. We engage individuals with anxiety, depression, substance use disorder and chronic disease through personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company’s integrated intervention platform uses AI, predictive analytics and digital interfaces combined with dozens of care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on the Company’s beliefs and assumptions and on information currently available to the Company on the date of this press release and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, the expectations around delivering on our obligations with customer contracts, expectation on the size of the Company’s callable outreach pool of members, timing of launch and effectiveness of and cost-savings provided by the Company’s program. 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, including risks related to the launch of the Company’s programs for this new health plan’s members and the timing thereof, the acceptance and use of the Company’s programs, and the effectiveness of the Company’s programs and solutions. 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 based on information available to us on the date hereof, 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.

Learn more at www.ontrakhealth.com