Company Expands Coverage by more than 500,000 Commercial Equivalent Lives.
Los Angeles, California — February 26, 2015 /PRNewswire/—Catasys, Inc. (CATS) provider of proprietary health management services to health insurers and other third party payors, is pleased to announce that it has expanded its Catasys’ OnTrak™ program into New Jersey with one of the nation’s leading national health plans. The plan’s eligible commercial health plan members will be covered under the OnTrak program, which includes medical and psychosocial interventions, as well as intensive care coaching over 52-weeks. Terren Peizer, Founder, Chairman and CEO, and 67% owner of Catasys, Inc. through his personal investment vehicle Crede Capital Group, commented, “We now have two leading national health plans, Humana and Aetna, and Medicaid leader, Centene, Inc. , and Fallon Healthcare now operating in 9 states. We anticipate rapid expansion amongst health plans throughout the industry as well as geographical expansion within the health plans over the coming year. We also anticipate rolling out similar programs for other behavioral health disease conditions, such as anxiety and depression. We proudly are improving patient health, providing significant cost savings to the healthcare system, and incentivising health plans to pay for the necessary treatment costs that patients require. Catasys’ OnTrak program is a game-changer.”
“Given the success of our enrollments, we are excited to expand into New Jersey with one of the largest health plans in the nation serving more than 20 million medical members. We look forward to working with patients in New Jersey to provide medical and behavioral treatment in a patient-centric, long-term program that provides individualized support and coaching to members addressed by our OnTrak program. Our outcomes demonstrate that overall, members who have enrolled in the OnTrak program have achieved improved health and reduced hospital admissions,” said Rick Anderson, Catasys’ President and COO. “Our initial focus is on improving the whole health of people with substance use disorders in order to reduce health care costs for insurers and other payors. This is a multi-billion dollar opportunity, and through our business model, we have already demonstrated greater than 50% reduction in health plan healthcare costs for members enrolled in our program. We look forward to delivering similar results in this plan and continue to focus on further expanding this program nationally; as we are with many of our other national plans.”
Catasys has contracts with many health insurance providers and currently has approximately 1.8 million Commercially Equivalent Lives (CELs) covered under contracts and located in nine states, which is anticipated to allow the Company to achieve profitability once full steady state enrollment is achieved. For more information and a list of Catasys’ customers, please refer to the corporate presentation posted on the Investors section of the Company’swebsite.
Catasys, Inc. provides specialized healthcare management services to health plans and employers through its OnTrak program. Catasys’ OnTrakprogram – contracted with a growing number of health insurers – is designed to improve member health and at the same time lower costs to the insurer for underserved populations where behavioral health conditions are exacerbating co-existing medical conditions. The program utilizes member engagement and patient centric treatment that integrates evidence based medical and psychosocial interventions along with care coaching in a 52-week outpatient program. OnTrak is currently improving member health and, at the same time, is demonstrating reduced inpatient and emergency room utilization driving a more than 50% reduction in total health insurers’ costs for enrolled members. Catasys has contracts with many health insurance providers and currently has approximately 1.8 million Commercially Equivalent Lives (CELs) covered under contracts and located in nine states. Catasys’ initial focus is on the high cost substance abuse populations, where it has incentivized health plans to spend more on behavioral health to improve overall member health resulting in lower hospital utilization and cost. In addition, Catasys is looking towards other populations and behavioral health disease conditions to expand to in the future. For further information, please visit www.catasys.com.