Ontrak Inc Stock Price, News & Analysis

Ontrak Inc (NASDAQ: OTRK) announced a 1-for-15 reverse stock split effective September 23, 2024. This move aims to increase the bid price of common stock to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The stock will continue trading under the symbol 'OTRK' with a new CUSIP number. The split will reduce outstanding shares from approximately 48.0 million to 3.2 million. No fractional shares will be issued; fractional interests will be rounded up to the next whole share. The split will not change stockholders' ownership percentages or voting power, except for minor adjustments due to fractional share treatment. Proportionate adjustments will be made to stock options, incentive plans, and warrants.

Ontrak Health (NASDAQ: OTRK) has reported significant improvements in members' quality of life based on data from the Recovering Quality of Life (ReQoL) measure. Key findings include:

• 58% of Medicaid and 29% of Commercial members reported poorer quality of life compared to the general population at baseline
• 35% of Medicaid and 18% of Commercial members showed significant improvements in ReQoL scores after subsequent assessments

These improvements align with positive trends in Depression and Anxiety measures (PHQ-9 and GAD-7) within Ontrak's WholeHealth+ program. The ReQoL tool has proven valuable in uncovering hidden struggles and tracking clinical progress, enhancing the effectiveness of Ontrak's tech-enabled personalized interventions.

Ontrak Health (NASDAQ: OTRK), an AI-powered behavioral healthcare company, announced its Chief Innovation Officer, Brianna Brennan, will speak at two major healthcare events on September 25, 2024. She will present at the Becker's Healthcare Webinar on holistic member journeys and health plan ROI at 12:30 PM ET. Topics include maximizing value-based care models and creating a 360-degree view of members.

Later, Brennan will participate in a panel discussion at the Women's Health Innovation Summit USA in Boston at 4:30 PM ET, focusing on AI's potential in behavioral health for women. Ontrak Health uses AI, predictive analytics, and digital interfaces to improve healthcare outcomes for vulnerable populations with mental health and chronic conditions.

Ontrak Health (NASDAQ: OTRK) has launched Ontrak Quality, a new product designed to help healthcare organizations improve quality measures and boost performance scores. This AI-powered solution aims to close gaps in care, impacting reimbursement rates, star ratings, and patient outcomes. Key features include:

• Advanced data analytics to identify high-risk patients
• Integrated patient outreach and engagement
• Care coordination and EHR integration
• Real-time quality improvement dashboard
• Scalable ecosystem supporting various quality measures

The product addresses HEDIS and Star Ratings, with initial successes in areas like diabetes screening and mental health follow-ups. This standalone solution expands Ontrak's Total Addressable Market, complementing its existing product portfolio.

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.