Welcome to our dedicated page for Ontrak news (Ticker: OTRK), a resource for investors and traders seeking the latest updates and insights on Ontrak stock.
Overview
Ontrak Inc is a technology-enabled, artificial intelligence powered company specializing in behavioral healthcare. The company uses an innovative PRE (Predict-Recommend-Engage) platform to provide a virtualized outpatient treatment approach, blending in-person and telehealth intervention services for health plans and third-party payors. By leveraging claim-based analytics and predictive modeling, Ontrak identifies health plan members at risk of chronic disease exacerbation due to unaddressed behavioral health issues.
Core Business and Technology
At the heart of Ontrak's services is its sophisticated platform that integrates predictive analytics with evidence-based psychosocial and medical interventions. The platform operates by:
- Predicting: Utilizing advanced algorithms to determine which members are likely to benefit most from behavioral interventions.
- Recommending: Generating personalized care pathways designed to align with patients’ willingness to change their health behaviors.
- Engaging: Actively reaching out to those who have not been receiving appropriate care, ensuring that they are connected to vital health services.
This integrated approach not only enhances patient engagement but also addresses the broader social and environmental determinants of health, ultimately aiming to improve symptom management and overall well-being.
Targeted Health Conditions and Integrated Care Approach
Ontrak focuses on managing chronic conditions that are frequently worsened by behavioral health challenges. These include common yet complex illnesses such as diabetes, hypertension, coronary artery disease, COPD, and congestive heart failure. The company’s comprehensive strategy involves combining technology-driven predictive insights with traditional care coordination, where care coaches and community care coordinators help bridge the gap between medical advice and practical, day-to-day patient support.
Industry Position and Operational Model
Operating at the intersection of healthcare and advanced analytics, Ontrak occupies a unique niche in the market. Its model is built on extensive data integration, real-time analytics, and a deep understanding of behavioral health dynamics. By offering a hybrid service delivery model that encompasses both in-person and telehealth interactions, the company effectively addresses the varied needs of a diverse patient population. This makes Ontrak a significant player in the digital health and chronic disease management space, without relying on transient market trends or short-term financial metrics.
Expertise and Operational Credibility
Ontrak demonstrates its expertise in leveraging artificial intelligence to transform traditional healthcare delivery. Its evidence-based approach combines rigorous analytical methodologies with a hands-on care delivery model that is rooted in real-world outcomes. The company continuously refines its care pathways, drawing on extensive clinical data and stakeholder feedback, ensuring that its interventions are both scientifically sound and practically effective.
Conclusion
The comprehensive model employed by Ontrak Inc not only highlights its deep expertise in behavioral healthcare but also its commitment to using technology to bridge critical gaps in chronic disease management. Investors and industry observers can note that the company’s operational framework is built on robust analytics, integrated care strategies, and an unwavering focus on improving patient outcomes through balanced and informed interventions.
Ontrak (NASDAQ: OTRK) has secured Medicaid provider designation in two states - one in the Midwest and another in the Southeast. This strategic development enables the AI-powered behavioral healthcare company to operate as a direct value-based provider alongside its existing vendor operations.
The new designation allows Ontrak to align quality outcomes and HEDIS measures with medical cost savings and financial incentives shared with payor partners. Notably, this status permits fees to be categorized under the medical cost ratio rather than administrative vendor fees, and enables billing codes reimbursable at the State level for Medicaid plans.
The company is currently in discussions with a large Midwestern Health Plan regarding potential implementation of its WholeHealth+ solution. These Medicaid approvals strengthen Ontrak's ability to create value-based partnerships with managed care organizations, health systems, and community-based providers across multiple states for Medicaid beneficiaries.
Ontrak Health (NASDAQ: OTRK) has launched its WholeHealth+ program for Intermountain Health's Medicare Advantage members in Nevada. The implementation began with the addition of 2,750 Nevada Medicare Advantage members to its outreach pool. Intermountain Health, operating 400 clinics and 34 hospitals in the western United States, was recently recognized as Nevada's top healthcare employer in the 2024 Forbes Best Employers.
The WholeHealth+ solution is designed to identify and assist high-cost, high-acuity members with chronic comorbidities and unaddressed behavioral health conditions. The program provides care coaching and facilitates access to provider treatment, aiming to improve clinical outcomes and achieve significant cost savings.
Ontrak Health (NASDAQ: OTRK) has extended its strategic partnership with Sentara Health Plans through December 2027, following three successful expansions in 2024. The three-year contract extension builds upon their existing seven-year relationship.
The 2024 expansions included: extending WholeHealth+ to a larger Commercial membership, introducing Ontrak's Engage solution to Commercial fully insured and self-funded members, and expanding to Marketplace membership. Additionally, Ontrak will now offer its Quality solution to close HEDIS gaps in care as part of its WholeHealth+ and Engage solutions for enrolled Sentara Health Plans members.
The partnership aims to improve member engagement, care coordination, and overall health outcomes through AI-powered and telehealth-enabled behavioral healthcare services.
Ontrak Health (NASDAQ: OTRK), an AI-powered and telehealth-enabled behavioral healthcare company, has announced a new partnership with Intermountain Health to deliver value-based behavioral health services to Medicare Advantage members in Nevada.
Intermountain Health operates 400 clinics and 34 hospitals in the western United States and was recently recognized as the top healthcare employer in Nevada by Forbes for 2024. Ontrak Health will provide its Ontrak Wholehealth+ solution, which targets high-cost, high-acuity members with chronic comorbidities and unaddressed behavioral health conditions. This solution offers care coaching and timely provider access to improve clinical outcomes and reduce costs.
The agreement is expected to add approximately 2,000 members to Ontrak Health’s outreach pool starting in mid-February 2025. It also includes an option to implement the Ontrak Engage solution, a coaching-specific program aimed at members who need ongoing coaching for physical and behavioral health challenges.
Mary Lou Osborne, President and Chief Commercial Officer at Ontrak Health, stated that the partnership aims to transform behavioral healthcare delivery for Medicare Advantage members by expanding provider access, improving health outcomes, and reducing total care costs.
Ontrak Health reported Q3 2024 financial results showing revenue of $2.6 million, down 31% year-over-year, with an operating loss of $(5.1) million. The company secured two new regional health plan customers and four health plan expansions since January, covering Medicaid, HARP, Commercial, and Marketplace segments. Total enrolled members in WholeHealth+ program reached 2,007 at Q3 end. The company implemented a 1-for-15 reverse stock split effective September 23, 2024. A significant customer representing 68% of Q3 revenue notified intent to discontinue services after December 2024. For Q4 2024, revenue guidance is projected between $2.9-$3.2 million.
Ontrak Health (NASDAQ: OTRK) announced an expansion of its partnership with Sentara Health Plans in Virginia. The expansion includes offering their Engage solution to Commercial fully insured and self-funded members, as well as extending services to Marketplace membership. This represents a six-fold increase in eligible members for Ontrak solutions. The Engage solution provides coaching support for physical and behavioral health challenges, addressing social needs and HEDIS care gaps. This expansion follows the WholeHealth+ partnership announced earlier this year, with outreach to the new targeted population beginning this week.
Ontrak Health (NASDAQ: OTRK) has scheduled its 2024 third quarter financial results announcement for November 13, 2024, after market close. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on the same day. Participants can access the call by pre-registering online or joining via audio webcast at the company's investor relations website. A replay will be available for approximately 90 days after the call.
Ontrak Health (NASDAQ: OTRK) has expanded its partnership with a major Northeast regional health plan, implementing its Ontrak Quality solution to address behavioral health metrics according to HEDIS standards. This initiative aims to enhance patient outcomes and help the health plan achieve national quality benchmarks.
The Ontrak Quality service will broaden access to behavioral healthcare services for Commercial, Medicaid, and HARP members not enrolled in the WholeHealth+ program. This expansion complements the recently launched WholeHealth+ solution with the same customer.
Mary Lou Osborne, Chief Commercial Officer of Ontrak Health, emphasized the company's commitment to bridging critical care gaps in behavioral health and driving improved health outcomes using advanced AI capabilities and proven engagement techniques.
Ontrak Inc (NASDAQ: OTRK) announced a 1-for-15 reverse stock split effective September 23, 2024. This move aims to increase the bid price of common stock to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The stock will continue trading under the symbol 'OTRK' with a new CUSIP number. The split will reduce outstanding shares from approximately 48.0 million to 3.2 million. No fractional shares will be issued; fractional interests will be rounded up to the next whole share. The split will not change stockholders' ownership percentages or voting power, except for minor adjustments due to fractional share treatment. Proportionate adjustments will be made to stock options, incentive plans, and warrants.
Ontrak Health (NASDAQ: OTRK) has reported significant improvements in members' quality of life based on data from the Recovering Quality of Life (ReQoL) measure. Key findings include:
- 58% of Medicaid and 29% of Commercial members reported poorer quality of life compared to the general population at baseline
- 35% of Medicaid and 18% of Commercial members showed significant improvements in ReQoL scores after subsequent assessments
These improvements align with positive trends in Depression and Anxiety measures (PHQ-9 and GAD-7) within Ontrak's WholeHealth+ program. The ReQoL tool has proven valuable in uncovering hidden struggles and tracking clinical progress, enhancing the effectiveness of Ontrak's tech-enabled personalized interventions.
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