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) delivers AI-powered behavioral healthcare solutions through its proprietary PRE platform, addressing chronic conditions exacerbated by untreated mental health factors. This page serves as the definitive source for official company announcements and strategic developments.
Access timely updates including earnings reports, partnership agreements, regulatory milestones, and technology innovations. Our curated news collection enables investors to track Ontrak's progress in integrating predictive analytics with personalized care delivery models.
Discover updates on key operational areas: clinical program expansions, payer partnership developments, and advancements in telehealth integration. All content is sourced directly from verified company communications to ensure accuracy and compliance.
Bookmark this page for streamlined access to Ontrak's evolving role in value-based care initiatives and behavioral health technology. Monitor how the company's data-driven approach continues to shape chronic disease management strategies across healthcare ecosystems.
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)?
