Ontrak to Report 2021 Second Quarter Financial Results on August 5, 2021

Rhea-AI Summary

Ontrak, Inc. (NASDAQ: OTRK) will report its Q2 2021 financial results on August 5, 2021, post-market closure. A conference call will follow at 1:30 PM PT / 4:30 PM ET, accessible via +1 (833) 519-1269 for U.S. participants and (914) 800-3841 internationally, using conference ID #8325624. Ontrak is a leader in AI-powered telehealth solutions, aimed at enhancing member health outcomes through its PRE™ platform. Their recent study showed a 64% reduction in hospitalizations for individuals with untreated behavioral health needs, indicating significant cost savings for healthcare payors.

Positive

• 64% reduction in inpatient hospitalizations for participants with untreated behavioral health needs.
• Statistically significant savings of $486 per member per month for those completing the 12-month program.
• Increased utilization of preventative behavioral healthcare visits.

Negative

• None.

Ontrak, Inc (NASDAQ: OTRK) (“Ontrak” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized healthcare company, today announced it will report financial results for the second quarter 2021 on Thursday, August 5, 2021 after market close. Company management will host a corresponding conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time.

Conference Call & Webcast Details

The conference call can be accessed by dialing +1 (833) 519-1269 for U.S. participants or (914) 800-3841 for international participants and referencing conference ID #8325624. A live and archived webcast of the event will be available at https://www.ontrak-inc.com/presentations.html.

About Ontrak, Inc.

Ontrak, Inc. (f/k/a Catasys, Inc.) is a leading AI and telehealth enabled, virtualized healthcare 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 are not getting the care they need. By combining predictive analytics with human engagement, Ontrak delivers improved member health and validated outcomes and savings to healthcare payors.

The company’s integrated, technology-enabled Ontrak™ programs, a critical component of the PRE platform, are designed to provide healthcare solutions to 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.

A landmark behavioral health study, “Treatment Effect of the Ontrak Program,” found that Ontrak’s program produces a statistically significant reduction of 64% in inpatient hospitalizations within the treatment group of individuals with untreated behavioral health needs and medical comorbidities. The program also resulted in an increase in utilization of preventative behavioral healthcare office visits. The savings for members who completed the 12-month program were statistically significant and notable at $486 per member per month, which equates to a savings of nearly $12,000 per member over two years, post enrollment. The cost for all-cause health office visits rose $110 per member per month, a positive change indicating uptake of productive, preventive care and fewer costly and avoidable inpatient hospitalizations. Advisors to the Ontrak research team led by Dr. Hilary Placzek include Robert M Kaplan, faculty member at the Stanford School of Medicine Clinical Excellence Research Center (CERC) and Jill Glassman PhD, Biostatistician and Senior Center Manager of Quantitative Analysis at the Stanford School of Medicine Clinical Excellence Research Center (CERC).

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 payors.

Learn more at www.ontrak-inc.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005223/en/

FAQ

What are the financial results expected from Ontrak for Q2 2021?

Ontrak is set to release its Q2 2021 financial results on August 5, 2021.

When is Ontrak's conference call scheduled for Q2 2021 results?

The conference call is scheduled for August 5, 2021, at 1:30 PM PT / 4:30 PM ET.

What significant findings were reported from Ontrak's recent behavioral health study?

The study reported a 64% reduction in hospitalizations and notable cost savings of $12,000 per member over two years.