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, Inc. (NASDAQ: OTRK) announced the appointment of Arik Hill as its first Chief Information Officer, effective August 30, 2021. Hill brings extensive experience from The New York Foundling and HealthEdge Software, where he improved technology infrastructure and customer experiences. CEO Jonathan Mayhew emphasized Hill's role in supporting Ontrak's technological investments to enhance care pathways and integrate interventions. Ontrak focuses on improving behavioral health care through AI and telehealth, addressing chronic diseases and mental health challenges.
Ontrak, Inc. (NASDAQ: OTRK) has appointed Mary Louise Osborne as its first Chief Customer Officer, effective August 30, 2021. Osborne brings extensive experience from CVS Health and Coventry Health Care, where she significantly increased Medicaid revenue and membership. CEO Jonathan Mayhew stated that her role will be vital as Medicaid and Medicare grow in importance to the company’s revenues. Ontrak is focused on improving health outcomes for vulnerable populations through AI-driven telehealth services.
Ontrak, Inc. (NASDAQ: OTRK) reported strong financial results for Q2 2021, with revenues of $26.5 million, a 54% increase year-over-year. The operating loss improved to $(1.7) million from $(4.1) million in Q2 2020, reducing the operating loss margin from (24)% to (6)%. Adjusted EBITDA reached $2.8 million, up from $(2.1) million a year earlier. Net loss decreased to $(3.7) million or $(0.33) per share, compared to a net loss of $(6.2) million in the previous year. The company anticipates total revenue between $80-85 million for 2021.
Ontrak, Inc. (NASDAQ: OTRK) announced the declaration of its fourth quarterly cash dividend for the Series A Cumulative Perpetual Preferred Stock, set at $0.593750 per share, representing a 9.50% annual yield based on a $25.00 liquidation preference. This dividend will be paid on August 31, 2021, to shareholders on record as of August 15, 2021. The stock trades under the symbol OTRKP on the NASDAQ Global Market.
Ontrak (NASDAQ: OTRK), a prominent AI and telehealth-enabled healthcare company, will participate in the 41st Annual Canaccord Genuity Growth Conference. Management is scheduled to present on August 11, 2021, at 4:00 p.m. ET. A live and archived webcast of the presentation will be accessible via the ‘Investors’ section of Ontrak’s website.
The company focuses on improving health outcomes for vulnerable populations facing behavioral health issues, utilizing AI and customized care pathways to enhance engagement and treatment access.
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.
Ontrak, Inc. (NASDAQ: OTRK) announced the registration of over 200 healthcare leaders for a presentation on the landmark behavioral health study titled "Treatment Effect of the Ontrak Program." This study outlines significant findings, including a $486 monthly cost saving per member and a 64% reduction in avoidable inpatient utilization. The results highlight Ontrak's coaching model, which enhances member engagement and improves health outcomes. The study is set for peer review in August, showcasing Ontrak's commitment to delivering validated results and cost savings to healthcare payors.
Ontrak, Inc. (NASDAQ: OTRK) has announced a new Master Services Agreement with Sentara Healthcare to expand its Ontrak program for Optima Health members, enhancing access to behavioral healthcare for Medicare and Medicaid members. The program has shown positive clinical outcomes with a 43% savings rate, leading to a significant ROI. A recent treatment study indicated a 64% reduction in inpatient hospitalizations for participants, alongside notable savings of $12,000 per member over two years. The initiative aims to address the mental health needs of those with chronic conditions.
Ontrak, Inc. (NASDAQ: OTRK) announced its participation in the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 3:05 p.m. Eastern Time. The Company specializes in AI and telehealth-driven healthcare solutions, aiming to improve health outcomes through its PRE™ platform. This platform predicts and engages members needing care for chronic diseases. A pivotal study indicated a 64% reduction in hospitalizations among participants, highlighting the effectiveness of Ontrak's programs, which also provide substantial cost savings for healthcare payors.
Ontrak, Inc. (NASDAQ: OTRK) reported strong Q1 2021 results, with revenues at $28.7 million, up 133% year-over-year. Operating loss improved to $(2.9) million from $(6.0) million, showcasing a better margin of (10)%. Adjusted EBITDA reached $1.9 million compared to a $(3.6) million loss last year. The net loss narrowed to $(5.5) million, or $(0.44) per share. Total enrolled members decreased to 12,376 due to planned disenrollments. The company revised 2021 revenue guidance to $80-85 million amid leadership changes and ongoing expansions.
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