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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190507005507/en/
For Investors:Catasys, Inc.Ariel
DavisPhone: 310-444-4346Email: ariel@catasys.com
For Media:Catasys, Inc.Cathy
FinleyPhone: 310-444-4308Email: cfinley@catasys.com
Catasys (NASDAQ:CATS)
Historical Stock Chart
From Apr 2024 to May 2024
Catasys (NASDAQ:CATS)
Historical Stock Chart
From May 2023 to May 2024