Ontrak Announces New Contract with Large Northeast Regional Health Plan
Ontrak, Inc. (NASDAQ: OTRK) has announced a 2-year strategic partnership with a large, regional health plan in the Northeast. The partnership aims to deliver Ontrak's WholeHealth+ solution to members in New York with chronic comorbidities and unaddressed behavioral health conditions. This AI-powered and telehealth-enabled solution uses advanced data analytics and risk assessment tools to identify high-cost, complex members and provide personalized care coaching support.
The partnership is expected to approximately double Ontrak's current outreach pool of eligible members, covering multiple lines of business including Medicaid, HARP, and Commercial HMO. Additionally, Ontrak will provide its Engage solution for members not eligible for WholeHealth+ but who would benefit from ongoing care coaching. The companies are working towards launching Ontrak Health's solutions for eligible members within 60 days.
Ontrak, Inc. (NASDAQ: OTRK) ha annunciato una partnership strategica di 2 anni con un importante piano sanitario regionale nel Nord-est. L'obiettivo della partnership è fornire la soluzione WholeHealth+ di Ontrak ai membri di New York con comorbidità croniche e condizioni di salute comportamentale non trattate. Questa soluzione, abilitata all'AI e alla telemedicina, utilizza analisi dei dati avanzate e strumenti di valutazione del rischio per identificare membri complessi e ad alto costo, offrendo supporto personalizzato di coaching care.
Si prevede che la partnership doppierà circa l'attuale pool di membri idonei raggiungibile da Ontrak, coprendo più linee di business inclusi Medicaid, HARP e Commercial HMO. Inoltre, Ontrak fornirà la sua soluzione Engage per i membri non idonei a WholeHealth+ ma che trarrebbero beneficio da un coaching care continuato. Le aziende stanno lavorando per lanciare le soluzioni di Ontrak Health per i membri idonei entro 60 giorni.
Ontrak, Inc. (NASDAQ: OTRK) ha anunciado una asociación estratégica de 2 años con un importante plan de salud regional en el Noreste. El objetivo de la asociación es proporcionar la solución WholeHealth+ de Ontrak a los miembros en Nueva York con comorbilidades crónicas y condiciones de salud conductual no atendidas. Esta solución, habilitada por IA y telemedicina, utiliza análisis de datos avanzados y herramientas de evaluación de riesgo para identificar miembros complejos y de alto costo, brindando apoyo personalizado de coaching en el cuidado.
Se espera que la asociación dople aproximadamente la actual base de miembros elegibles de Ontrak, abarcando múltiples líneas de negocio, incluyendo Medicaid, HARP y HMO comercial. Además, Ontrak proporcionará su solución Engage para miembros no elegibles para WholeHealth+, pero que se beneficiarían de un coaching continuo en el cuidado. Las empresas están trabajando para lanzar las soluciones de Ontrak Health para los miembros elegibles en un plazo de 60 días.
Ontrak, Inc. (NASDAQ: OTRK)는 북동부의 대규모 지역 건강 계획과 2년 전략적 파트너십을 발표했습니다. 이 파트너십의 목표는 만성 동반 질환과 해결되지 않은 행동 건강 문제를 가진 뉴욕의 회원들에게 Ontrak의 WholeHealth+ 솔루션을 제공하는 것입니다. 이 AI 기반의 원격 의료 솔루션은 고급 데이터 분석 및 위험 평가 도구를 사용하여 고비용의 복잡한 회원을 식별하고 개인 맞춤형 치료 코칭 지원을 제공합니다.
이 파트너십은 Ontrak의 현재 회원 자격 풀을 약 두 배로 늘릴 것으로 예상되며, Medicaid, HARP, 상업적 HMO 등 여러 비즈니스 라인을 포함합니다. 또한, Ontrak은 WholeHealth+의 혜택을 받지 못하는 회원들이 지속적인 치료 코칭을 통해 혜택을 받을 수 있도록 Engage 솔루션을 제공할 것입니다. 이들 회사는 자격이 있는 회원들을 위해 Ontrak Health의 솔루션을 60일 이내에 출시할 계획입니다.
Ontrak, Inc. (NASDAQ: OTRK) a annoncé un partenariat stratégique de 2 ans avec un grand plan de santé régional dans le Nord-est. Ce partenariat vise à fournir la solution WholeHealth+ d'Ontrak aux membres de New York souffrant de comorbidités chroniques et de problèmes de santé comportementale non traités. Cette solution propulsée par l'IA et habilitée à la télémédecine utilise des analyses de données avancées et des outils d'évaluation des risques pour identifier des membres complexes et coûteux et offrir un soutien de coaching de soins personnalisé.
On s'attend à ce que ce partenariat doubler environ le portefeuille actuel de membres éligibles d'Ontrak, couvrant plusieurs lignes d'affaires, y compris Medicaid, HARP et des HMO commerciaux. De plus, Ontrak fournira sa solution Engage pour les membres qui ne sont pas éligibles à WholeHealth+ mais qui pourraient bénéficier d'un coaching de soins continu. Les entreprises travaillent à la mise en œuvre des solutions d'Ontrak Health pour les membres éligibles d'ici 60 jours.
Ontrak, Inc. (NASDAQ: OTRK) hat eine 2-jährige strategische Partnerschaft mit einem großen regionalen Gesundheitsplan im Nordosten bekannt gegeben. Ziel der Partnerschaft ist es, Ontraks WholeHealth+-Lösung für Mitglieder in New York mit chronischen Begleiterkrankungen und unbehandelten Verhaltens Gesundheitszuständen bereitzustellen. Diese KI-gestützte und telemedizinisch-enabled Lösung verwendet fortschrittliche Datenanalytik und Risikobewertungstools, um hochkomplexe und kostspielige Mitglieder zu identifizieren und personalisierte Unterstützungsangebote für die Pflege zu bieten.
Es wird erwartet, dass die Partnerschaft Ontraks derzeitiges Netzwerk von berechtigten Mitgliedern ungefähr verdoppeln wird und mehrere Geschäftsfelder abdeckt, einschließlich Medicaid, HARP und Commercial HMO. Darüber hinaus wird Ontrak seine Engage-Lösung für Mitglieder bereitstellen, die nicht für WholeHealth+ berechtigt sind, aber von fortlaufender Pflege-Coaching profitieren können. Die Unternehmen arbeiten daran, Ontrak Healths Lösungen für berechtigte Mitglieder innerhalb von 60 Tagen einzuführen.
- Secured a 2-year strategic partnership with a large Northeast regional health plan
- Expected to double the current outreach pool of eligible members
- Expanding services to multiple lines of business including Medicaid, HARP, and Commercial HMO
- Launching both WholeHealth+ and Engage solutions for comprehensive member coverage
- None.
Insights
This partnership marks a significant expansion for Ontrak in the Northeast market. The deal's potential to double Ontrak's outreach pool suggests substantial revenue growth opportunities. The inclusion of multiple lines of business (Medicaid, HARP, Commercial HMO) diversifies Ontrak's customer base, potentially reducing risk.
Ontrak's AI-powered WholeHealth+ solution addresses a critical need in healthcare: identifying and managing high-cost patients with comorbidities. This approach aligns with the industry trend towards value-based care, which could position Ontrak favorably in future contract negotiations.
The 60-day implementation timeline is ambitious and, if successful, could demonstrate Ontrak's operational efficiency to other potential clients. However, investors should monitor for any delays or implementation challenges that could impact the company's reputation and future growth prospects.
While specific financial terms aren't disclosed, this 2-year contract with a large regional health plan is likely to have a positive impact on Ontrak's revenue stream. The potential doubling of the outreach pool suggests a significant increase in billable services.
Investors should note that the contract covers multiple lines of business, including Medicaid and Commercial HMO, which could lead to a more stable and diverse revenue mix. However, the focus on New York state alone may limit the overall impact on Ontrak's financials.
The addition of the Engage solution for members not eligible for WholeHealth+ demonstrates Ontrak's ability to capture additional market segments, potentially increasing revenue per customer. Keep an eye on future earnings reports to gauge the actual financial impact of this partnership on Ontrak's bottom line.
Ontrak's use of advanced data analytics and AI for risk assessment and personalized care coaching is at the forefront of healthcare technology trends. The combination of AI with human interaction in their Advanced Engagement System represents a balanced approach that could yield better outcomes than purely automated or human-driven systems.
The company's focus on behavioral health in conjunction with chronic physical conditions addresses a significant gap in traditional healthcare models. This holistic approach could lead to improved patient outcomes and cost savings for health plans, potentially strengthening Ontrak's value proposition.
However, the success of this partnership will largely depend on the effectiveness of Ontrak's AI algorithms in identifying high-risk members and the ability to demonstrate measurable improvements in health outcomes and cost reduction. Investors should monitor for any published results or case studies from this partnership to validate the technology's real-world impact.
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
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
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808299556/en/
Company Contact:
Brandon LaVerne
Chief Executive Officer and Chief Operating Officer
blaverne@ontrakhealth.com
Investor Relations:
Ryan Halsted
Gilmartin Group
investors@ontrakhealh.com
Source: Ontrak, Inc.
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