Ontrak, Inc. (NASDAQ: OTRK), a leading AI-powered and technology-enabled behavioral healthcare company, today announced the launch of Ontrak Quality, its latest product offering designed to help healthcare payers, providers, and stakeholders close gaps in care, thereby improving quality measures and ultimately quality scores. Quality scores play a vital role in shaping the healthcare landscape, impacting reimbursement rates, star ratings, and patient outcomes. This latest innovation continues Ontrak’s expansion of their Advanced Engagement System to solve healthcare organizations’ toughest problems.
Ontrak Health's new product offering provides a comprehensive solution to identify, manage, and close care gaps through a combination of advanced technology, robust data management, and personalized patient outreach. The product is designed to address key quality measures such as HEDIS (Healthcare Effectiveness Data and Information Set) and Star Ratings, which are widely used by organizations like the Centers for Medicare & Medicaid Services (CMS) for quality assessment in Medicare Advantage plans and by many state Medicaid programs. Core features include:
- Advanced Data Analytics: The solution utilizes AI-driven analytics to identify high-risk patients and gaps in care across multiple measure sets, prioritizing interventions based on impact and feasibility.
- Integrated Patient Outreach and Engagement: Through tailored communication strategies, the solution facilitates personalized outreach and engagement strategies to members who are due for critical care services, increasing compliance rates.
- Care Coordination and Integration: Seamless integration with existing Electronic Health Records (EHR) and care management systems allows care teams to access real-time data, coordinate care more effectively, and track patient progress.
- Quality Improvement Dashboard: A user-friendly interface that offers real-time tracking of performance, enabling healthcare organizations to monitor their quality improvement efforts and adjust strategies accordingly.
- Scalable Ecosystem – Advanced Engagement System capabilities that inherently scale along with configurable expansion of supported quality measures.
Ontrak has successes in closing care gaps for our members, including key areas such as diabetes screening, Follow-up post Hospitalization for Mental Health, and Adult Access to Primary Care. These initial results demonstrate the product's effectiveness in real-world scenarios in its current product portfolio and its potential impact on improving quality scores.
As healthcare organizations increasingly focus on closing care gaps, the demand for targeted solutions that can deliver measurable results continues to rise. Ontrak Health's new product aligns with this growing market need, providing healthcare payers and providers with a comprehensive, effective tool to enhance quality and operational efficiency. Complimenting Ontrak Health's existing product portfolio, including Identify, Outreach, Engage, Access and it’s end-to-end WholeHealth+ solution, these capabilities are now being offered as a powerful standalone solution for customers focused on HEDIS and Star Ratings. The flexibility expands Ontrak Health's Total Addressable Market (TAM), enabling the Company to attract a wider range of customers seeking tailored solutions for gap closure.
"At Ontrak Health, our unwavering commitment to innovation in healthcare technology solutions drives us to deliver solutions that significantly enhance patient outcomes and address the daily challenges faced by our customers," said Rick Newman, Chief Operating Officer at Ontrak Health. "Our latest product exemplifies this dedication, enabling healthcare organizations to achieve improved quality scores, deliver more effective preventive care, and ultimately improve the health and well-being of their patient populations."
About Ontrak Health
Ontrak Health (Nasdaq: OTRK) is a leading AI and technology-enabled behavioral healthcare company whose mission is to help improve health and save the lives of as many people as possible. Ontrak identifies, engages, activates, and provides care pathways to treatment for the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. We engage individuals with anxiety, depression, substance use disorder, and chronic disease through personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socioeconomic, medical, and health system barriers that exacerbate the severity of their comorbid illnesses. The company's integrated intervention platform uses AI, predictive analytics, and digital interfaces combined with dozens of care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.
Forward-Looking Statements
This press release contains “forward-looking” statements that are based on the Company’s beliefs and assumptions and on information currently available to the Company on the date of this press release and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, the expectations around the impact of our Ontrak Advanced Engagement System. 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, our ability to effectively improve the quality measures and boost performance scores for our customers and the impact of this solution on increasing the number of, and revenue from, our prospective customers. 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 based on information available to us on the date hereof, 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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