Ontrak Health Announces New Customer Partnership with Intermountain Health to Deliver Value-Based Behavioral Health Services to Medicare Advantage Members

Rhea-AI Summary

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.

Positive

• New partnership with Intermountain Health to deliver behavioral health services to Medicare Advantage members.
• Expected addition of approximately 2,000 members to Ontrak Health’s outreach pool starting mid-February 2025.
• Implementation of Ontrak Wholehealth+ solution for improved clinical outcomes and cost savings.
• Option to provide Ontrak Engage solution for ongoing coaching to address physical and behavioral health challenges.

Negative

• None.

Insights

Healthcare Market Analyst

This partnership marks a strategic expansion for OTRK in the Medicare Advantage space, particularly significant given Intermountain Health's substantial presence across the western U.S. with 400 clinics and 34 hospitals. The addition of 2,000 members to OTRK's outreach pool represents a meaningful revenue opportunity for a micro-cap company with a market cap of just $7.4M. The value-based care model, focusing on high-cost, high-acuity members, typically generates higher per-member-per-month (PMPM) revenues compared to traditional fee-for-service models. The potential inclusion of the Ontrak Engage solution could further expand the revenue potential. Intermountain's reputation as Nevada's top healthcare employer adds credibility to OTRK's service offering and could lead to expanded opportunities within Intermountain's broader network.

AI Healthcare Technology Specialist

OTRK's AI-powered behavioral health platform addresses a critical market need by identifying and engaging high-risk Medicare Advantage members with unaddressed behavioral health conditions. The technology's ability to proactively identify members who need intervention, combined with telehealth capabilities, positions OTRK to capture value in the rapidly growing Medicare Advantage market. The Wholehealth+ solution's focus on chronic comorbidities aligns with CMS's push for better management of complex conditions in the Medicare population. This platform approach, integrating AI identification with human coaching, creates a scalable model that could be particularly attractive to other large healthcare systems looking to manage behavioral health costs while improving outcomes.

MIAMI--(BUSINESS WIRE)-- Ontrak, Inc (NASDAQ: OTRK), (“Ontrak” or the “Company”), an AI-powered and telehealth-enabled behavioral healthcare company, announced it has signed an agreement to provide its behavioral health solutions to Intermountain Health’s Medicare Advantage members in Nevada.

Intermountain Health is a prominent healthcare system operating 400 clinics and 34 hospitals in the western United States. Intermountain Health is known for its high quality, affordable and personalized care and most recently was recognized as the top health care employer in Nevada in the 2024 Forbes Best Employers.

Ontrak Health will provide its proven Ontrak Wholehealth+ solution, which identifies high-cost, high-acuity members with chronic comorbidities and underlying but unaddressed behavioral health conditions and engages members with care coaching and timely access to provider treatment for improved clinical outcomes and significant cost savings. We currently expect this new agreement to add approximately 2,000 members to Ontrak Health’s outreach pool beginning in mid-February 2025.

The agreement also includes an option to provide the Ontrak Engage solution, a coaching-specific program that identifies members who would benefit from ongoing coaching to help them address physical and behavioral health challenges.

“Our partnership with Intermountain Health represents a significant step forward in transforming behavioral healthcare delivery for Medicare Advantage members. By integrating our behavioral health care coaching model across the full spectrum of mental health needs, we are demonstrating how innovation can expand provider access, improve health outcomes, and reduce total cost of care,” commented Mary Lou Osborne, President and Chief Commercial Officer at Ontrak Health. "This value-based partnership with Intermountain Health aligns perfectly with our mission to make high-quality behavioral healthcare accessible and affordable for seniors."

About Ontrak Health

Ontrak Health (Nasdaq: OTRK) is a leading AI-powered and technology-enabled behavioral healthcare company, whose mission is to help improve the 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 expectation on the timing and increase in the size of the members eligible for the Company’s solutions and expectation of the customer including members in future expansion in our Engage solution. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250108626532/en/

Company Contact:

Brandon LaVerne

Chief Executive Officer

blaverne@ontrakhealth.com

Investor Relations:

Ryan Halsted

Gilmartin Group

investors@ontrakhealth.com

Source: Ontrak Health

FAQ

What is the significance of Ontrak's new partnership with Intermountain Health?

The partnership is aimed at delivering value-based behavioral health services to Medicare Advantage members in Nevada, which could add approximately 2,000 members to Ontrak Health’s outreach pool.

When will Ontrak's agreement with Intermountain Health take effect?

The agreement is expected to add members to Ontrak Health’s outreach pool beginning in mid-February 2025.

What solutions will Ontrak provide through the new partnership with Intermountain Health?

Ontrak will provide its Ontrak Wholehealth+ solution and has the option to implement the Ontrak Engage solution.

How many clinics and hospitals does Intermountain Health operate?

Intermountain Health operates 400 clinics and 34 hospitals in the western United States.

What are the expected benefits of Ontrak's Wholehealth+ solution?

The Ontrak Wholehealth+ solution aims to improve clinical outcomes and achieve significant cost savings by providing care coaching and timely provider access.

What is Ontrak Engage, and who will benefit from it?

Ontrak Engage is a coaching-specific program designed to help members with ongoing physical and behavioral health challenges. It identifies members who would benefit from continuous coaching.

Who commented on the Ontrak and Intermountain Health partnership, and what was said?

Mary Lou Osborne, President and Chief Commercial Officer at Ontrak Health, commented 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.