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.
Ontrak, Inc. (OTRK), also referred to as Ontrak Health, has generated a stream of news centered on its role as a value-based, AI-powered behavioral healthcare company and, later, on significant financing and corporate developments. Company press releases describe how Ontrak uses a proprietary Advanced Engagement System, AI, and predictive analytics to identify and engage vulnerable members of the behavioral health population, including individuals with anxiety, depression, substance use disorder, and chronic disease. News items frequently discuss its WholeHealth+, Engage, and Quality solutions, which are aimed at improving clinical outcomes and reducing total cost of care for health plans and other payors.
Visitors to the OTRK news page can review announcements about partnerships with health plans and health systems, such as agreements with Sentara Health Plans and Intermountain Health, as well as Medicaid provider designations obtained through an affiliated practice association in two states. These stories outline how Ontrak’s programs are deployed across Medicare Advantage, Medicaid, Commercial, and Marketplace populations, and how the company positions itself as a technology-enabled behavioral health partner.
The news flow also includes financial results releases, highlighting revenue trends, operating losses, and non-GAAP metrics, along with details of public offerings, financing commitments from Acuitas Capital LLC, and amendments to the company’s Keep Well Agreement. Later disclosures and filings referenced in press releases and SEC documents describe challenges such as customer concentration, the loss of a major prospect, and the company’s efforts to secure additional capital.
For investors and researchers, the OTRK news page provides a chronological view of how Ontrak presented its mission, solutions, customer relationships, and financial condition over time. It also offers context for key turning points, including the board’s decision to cease operations and subsequent Nasdaq delisting actions documented in SEC filings. Reviewing this news archive alongside regulatory filings can help users understand both the company’s behavioral health strategy and the risks that emerged in its business model.
Ontrak Health (NASDAQ: OTRK) has partnered with MosaicVoice to integrate AI-powered voice technology into healthcare delivery. This collaboration aims to create a more connected and patient-centric healthcare ecosystem. The partnership will leverage MosaicVoice's advanced features, including:
- Real-time, dynamic AI guidance for compliant and personalized patient interactions
- Post-call quality assurance automation for efficient care team focus
- Performance insights and reporting for optimized care delivery
The integration of this technology is expected to enhance Ontrak's evidence-based model built on the Comprehensive Healthcare Integration (CHI) framework, potentially improving health outcomes and patient engagement.
Ontrak Health (NASDAQ: OTRK) has achieved HITRUST Risk-based, 2-year (r2) certification for its Ontrak Advanced Engagement System, specifically for customer data exchange elements. This certification underscores Ontrak's commitment to data security and regulatory compliance in healthcare. The HITRUST CSF® certification combines healthcare-specific security, privacy, and regulatory requirements from frameworks like HIPAA, NIST, ISO, and COBIT.
The certification applies to Ontrak's Axiom TransSend platform and AWS infrastructure, ensuring a secure environment for handling customer data. Arik Hill, Ontrak's Chief Information Officer, emphasized that this certification represents their promise to safeguard customer data with the utmost care and according to the highest industry standards.
Ontrak Health announced its expected Q2 2024 financial results. Revenue is projected at $2.5 million, down 17% YoY. Operating loss is expected to improve by 13% to $(4.0) million, while Adjusted EBITDA is anticipated to decline 8% to $(3.3) million. The net loss is forecasted at $(10.3) million, or $(0.19) per share.
Recent highlights include a new contract with a large northeast regional health plan, potentially doubling their outreach pool. Formal evaluation results show a cost-saving of $721 per member per month. Furthermore, the company adopted the Comprehensive Healthcare Integration (CHI) framework. The outlook for Q3 2024 estimates revenue between $2.4 million and $2.8 million. A conference call is scheduled for 4:30 pm ET today.
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 Health (NASDAQ: OTRK), an AI-powered and telehealth-enabled healthcare company, has announced it will release its 2024 second quarter financial results on August 8, 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 to discuss the results.
Interested participants can register online for dial-in information or access the live audio webcast at the company's investor relations website. A replay of the call will be available for approximately 90 days after the event. This announcement provides investors and analysts with the opportunity to review Ontrak's financial performance and engage with company management.
Ontrak Health (NASDAQ: OTRK) has announced impressive results from a study evaluating its WholeHealth+ program's impact on a Medicaid health plan customer's medical costs. The 36-month retrospective observational study revealed statistically significant savings in gross all-cause medical costs:
1. $721 PMPM over 24 months for program graduates
2. $508 PMPM for non-graduates enrolled for at least 5 months (average 8.2 months)
These findings validate the effectiveness of Ontrak's program in reducing avoidable healthcare expenditures and improving patient outcomes. The WholeHealth+ program focuses on identifying high-cost, complex Medicaid members with chronic comorbidities and unaddressed behavioral health conditions, providing personalized care coaching and support.
Ontrak Health (NASDAQ: OTRK) has adopted the Comprehensive Healthcare Integration (CHI) framework to enhance its care delivery model. This AI-powered behavioral healthcare company aims to improve integrated, whole-person care by addressing physical health, behavioral health, and social determinants of health. The CHI framework, developed by the National Council for Mental Wellbeing in 2022, provides a foundation for implementing and measuring integrated healthcare services.
Ontrak's implementation of CHI includes eight domains: screening and referral, prevention and treatment, continuing care management, self-management support, multidisciplinary teamwork, systematic measurement, linkage with community services, and financial sustainability. The company reports significant outcomes, including a 2.0x ROI, 62% reduction in inpatient utilization, 32% decrease in ER visits, and 28% net cost savings. Additionally, Ontrak has achieved improvements in GAD-7 and PHQ-9 scores and maintains a high NPS of 68.
Ontrak Health (NASDAQ: OTRK) reported Q1 2024 financial results, showing a 6% year-over-year revenue increase to $2.7 million. The operating loss decreased by 41% to $4.3 million, and adjusted EBITDA improved by 38% to a loss of $3.4 million. Net loss for the quarter was $4.5 million, or $0.11 per share. The company secured approval from Florida's AHCA to serve Community Care Plan's adult Medicaid population. Enrollment in the WholeHealth+ program was 1,521 by the end of Q1. In recent developments, Ontrak partnered with Acuitas Capital for potential funding up to $12 million and announced the expansion of its WholeHealth+ program. The company's revenue outlook for Q2 2024 is between $2.4 million and $2.8 million.
Ontrak Health, a leading AI-powered and telehealth-enabled behavioral healthcare company, announced a new contract with Community Care Plan to provide behavioral health solutions to its adult Medicaid population in South Florida. The partnership includes delivering solutions such as Ontrak WholeHealth+, Ontrak Engage, Ontrak Access, Ontrak Quality Support, and Ontrak Member Portal to improve clinical outcomes and reduce costs. The company anticipates reaching new eligible members and expanding its outreach pool by approximately 10% in the next 30 to 60 days.
Ontrak Health, a leading AI-powered and telehealth-enabled healthcare company, will report its financial results for the first quarter of 2024 on May 14, 2024. The company will host a conference call for investors and analysts to discuss the results. Participants can access the call online or via live webcast. A replay will be available for on-demand listening.
FAQ
What is the current stock price of Ontrak (OTRK)?
What is the market cap of Ontrak (OTRK)?
