Ontrak Inc Stock Price, News & Analysis

Ontrak Health (NASDAQ: OTRK) has partnered with Lyssn, leveraging AI to enhance Motivational Interviewing (MI) during coaching sessions. This collaboration will enable Ontrak's Care Coaches to receive real-time feedback on their MI techniques, aligning with best practices for improved client outcomes. Dr. Judith Feld, CMO of Ontrak, described this partnership as a breakthrough that boosts engagement and satisfaction among members. Furthermore, the partnership aims to enhance healthcare outcomes and reduce costs through effective MI adherence, marking a significant advancement in Ontrak Health's service delivery.

Ontrak, Inc. (NASDAQ: OTRK) announced it will report its fourth-quarter 2022 financial results on March 15, 2023, after market close. Management will host a conference call at 1:30 p.m. Pacific Time. The call will discuss the company's performance and provide insights into its operations in AI-powered and telehealth-enabled healthcare. Ontrak focuses on improving health outcomes for vulnerable behavioral health populations, leveraging AI and personalized coaching to drive member engagement and better healthcare utilization.

Ontrak, Inc. (NASDAQ: OTRK) announced its participation in the upcoming Healthcare IT Virtual Conference hosted by Maxim Group. Management will present on Wednesday, January 25, 2023, at 10:00 a.m. Eastern Time, accessible via M-Vest. Ontrak focuses on improving the health of vulnerable populations through AI-driven, customized care. Their platform identifies and engages individuals facing mental health challenges, including anxiety, depression, and substance use disorder, providing personalized coaching and pathways to treatment. For more details, visit Ontrak Health's website.

Ontrak, Inc. (OTRK) has integrated PHQ-9 and GAD-7 assessments into its Wholehealth+ program to enhance mental health care tracking. Initial results show that after six months, 30% of members experienced significant anxiety reduction, while 55% reported a notable decrease in depressive symptoms. These assessments help in monitoring treatment effectiveness and assessing patient progress, allowing for tailored healthcare interventions. The initiative reinforces Ontrak's commitment to utilizing AI and telehealth in addressing behavioral health issues through personalized care coaching.

Ontrak, Inc. (NASDAQ: OTRK) has signed an amendment with Optima Health to enhance its Wholehealth+ care program targeting high-acuity, cost-prohibitive members in their commercial line. This agreement leverages Ontrak’s AI-enabled Advanced Engagement System for real-time feedback and improved health outcomes. Expected to launch in January 2023, the amendment could boost Ontrak's outreach by 10-15%. Both organizations emphasize member health improvements as central to the partnership.

Ontrak, Inc. (NASDAQ: OTRK) announced the publication of its Treatment Effect Study in the American Journal of Managed Care. The study reports a significant $485 PMPM savings over 24 months, mainly from a 66% reduction in inpatient visits among 900 members enrolled in the Ontrak WholeHealth+ program. Key findings include sustained savings, increased office visits, and a push toward integrating behavioral health interventions in the healthcare system to support value-based care. These results validate Ontrak's approach to improving healthcare outcomes.

On December 6, 2022, Ontrak, Inc. (OTRK, OTRKP) received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement, having traded below $1.00 for 30 consecutive business days. The company has a 180-day grace period until June 5, 2023, to restore compliance by achieving a minimum closing bid price of $1.00 for at least 10 consecutive days. There is no immediate impact on the stock's listing, but the company is exploring options to regain compliance, with no assurance of success.

Ontrak, Inc. (NASDAQ: OTRK) reported Q3 2022 revenue of $2.8 million, an 85% decline compared to the previous year. The company experienced a net loss of $(12.8) million, or $(0.62) per share. To enhance its financial position, Ontrak fully repaid a $7.5 million loan and secured $3.3 million in a direct share offering. The company confirmed its 2022 revenue outlook of $14 to $16 million and noted progress in its sales pipeline, aiming for growth in 2023. Adjusted EBITDA was $(7.7) million, up from $(1.7) million in Q3 2021.

Ontrak, Inc. (NASDAQ: OTRK) will report its third-quarter 2022 financial results on November 9, 2022, after market close. A conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET. Investors can access the call via registration or through a live audio webcast. Ontrak leverages AI and telehealth to support behavioral health, emphasizing personalized care for vulnerable populations dealing with anxiety, depression, and substance use disorders.