Catasys, Inc. (NASDAQ:CATS) (“Catasys” or the “Company”), a leading AI
and technology-enabled healthcare company, today announced that it has
expanded its OnTrak-C solution with one of the nation’s leading health
insurance providers. Eligible Medicaid members in Texas will now be able
to participate in OnTrak for treatment of anxiety and depression, in
addition to substance use disorders.
OnTrak is an integrated suite of interventions for health plan members
with unaddressed behavioral conditions that worsen chronic medical
comorbidities. The program includes evidence-based psychosocial and
medical treatment, care coaching and support from in-market Community
Care Coordinators. Catasys applies advanced data analytics and
predictive modeling to identify health plan members who will benefit
from the program and uniquely engages them, improving their health while
delivering validated lower costs to health insurers.
Carol Murdock, Chief Commercial Officer, stated, “After successfully
implementing the OnTrak program in Texas for this health plan partner
over the past two years, we are pleased to expand this relationship to
provide assistance to those suffering from anxiety and depression. Texas
remains one of the largest states for Catasys in terms of eligible and
enrolled members, and we believe that this expansion will enable us to
impact a wider populace that is suffering from the impact of behavioral
health issues.”
About Catasys, Inc.
Catasys, Inc. harnesses proprietary big data predictive analytics,
artificial intelligence and telehealth, combined with human interaction,
to deliver improved member health and validated outcomes and savings to
health plans. Our mission is to help improve the health and save the
lives of as many people as possible.
Catasys’ integrated, technology-enabled OnTrak solution–contracted with
a growing number of national and regional health plans–is designed to
treat members with behavioral conditions that cause or exacerbate
co-existing medical conditions such as diabetes, hypertension, coronary
artery disease, COPD, and congestive heart failure, which result in high
medical costs.
Catasys has a unique ability to engage these members, who do not
otherwise seek behavioral healthcare, leveraging proprietary enrollment
capabilities built on deep insights into the drivers of care avoidance.
OnTrak integrates evidence-based psychosocial and medical interventions
delivered either in-person or via telehealth, along with care coaching
and in-market Community Care Coordinators. The program improves member
health and delivers validated cost savings to healthcare payers of more
than 50 percent for enrolled members. OnTrak is available to members of
several leading health plans in Alabama, California, Connecticut,
Florida, Georgia, Illinois, Iowa, Kansas, Kentucky, Louisiana,
Massachusetts, Mississippi, Missouri, Nebraska, New Jersey, North
Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas,
Virginia, West Virginia and Wisconsin.
Learn more at www.catasys.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in
this press release are forward-looking and made pursuant to the Safe
Harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect numerous assumptions and
involve a variety of risks and uncertainties, many of which are beyond
our control, which may cause actual results to differ materially from
stated expectations. These risk factors include, among others, changes
in regulations or issuance of new regulations or interpretations,
limited operating history, our inability to execute our business plan,
increase our revenue and achieve profitability, lower than anticipated
eligible members under our contracts, our inability to recognize
revenue, lack of outcomes and statistically significant formal research
studies, difficulty enrolling new members and maintaining existing
members in our programs, the risk that treatment programs might not be
effective, difficulty in developing, exploiting and protecting
proprietary technologies, intense competition and substantial regulation
in the health care industry, the risks associated with the adequacy of
our existing cash resources and our ability to continue as a going
concern, our ability to raise additional capital when needed and our
liquidity. You are urged to consider statements that include the words
“may,” “will,” “would,” “could,” “should,” “believes,” “estimates,”
“projects,” “potential,” “expects,” “plan,” “anticipates,” “intends,”
“continues,” “forecast,” “designed,” “goal,” or the negative of those
words or other comparable words to be uncertain and forward-looking. For
a further list and description of the risks and uncertainties we face,
please refer to our most recent Securities and Exchange Commission
filings which are available on its website at http://www.sec.gov.
Such forward-looking statements are current only as of the date they are
made, and we assume no obligation to update any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by law.
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