Catasys Contracts with the Largest U.S. Health Insurance Company
– OnTrak-U Solution initially launching in 8 states
– OnTrak-U Solution will cover depression, anxiety, and substance use disorder
LOS ANGELES, February 2, 2017 /PRNewswire/ — Catasys, Inc. (CATS), a provider of proprietary predictive analytics and integrated treatment solutions to health plans, announced today that it has contracted with the largest national health insurance company in the United States (the “Insurer”) to implement its OnTrak solution for anxiety, depression and substance use disorders (OnTrak-U). OnTrak-U is anticipated to launch in the first half of 2017 in eight states where OnTrak is already available to members of other leading health plans, with a case rate fee when members enroll plus a sharing of savings with the health plan.
Catasys eligible members average approximately $30,000 in costs to health insurers per year, and Catasys has been shown to reduce inpatient and emergency room utilization, driving an approximately 50 percent average reduction in total health insurers’ costs for enrolled members from the year prior to enrollment.
This contract will leverage Catasys’ proprietary analytic models to identify impactable members to engage and is anticipated to significantly contribute towards the Company’s goal of Equivalent Lives covered under contract of 20 million by the end of 2017. The Company has signed agreements to provide its OnTrak solution to several health plans, including some of the largest in the United States (http://catasys.com/clients.html).
“This is an exciting opportunity to expand and leverage our existing operations in several states and significantly increase the number of eligible members for our OnTrak solution. This represents the first multi-state agreement which will use our analytic models for our expanded product offering covering high-cost members suffering from anxiety, depression or substance use disorders. We are very pleased with the reception our advanced proprietary solutions are receiving in the market,” stated Rick Anderson, President and COO of Catasys.
“This particular health plan has an exceptional track record of innovation and providing care to its members. We are excited to partner with them and look forward to demonstrating the value of our solution,” concluded Mr. Anderson.
The Company will hold a conference call with the investment community today, February 2, 2017 at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. For interested individuals unable to join the conference call, a replay of the webcast will be available at http://catasys.com/presentations.html for 30 days following the call. Also, a dial-in replay of the call will be available through February 16, 2017, at +1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International). Participants must use the following code to access the dial-in replay of the call: 1474347.
About Catasys, Inc.
Catasys, Inc. provides big data based analytics and predictive modeling driven behavioral healthcare services to health plans and their members through its OnTrak solution. Catasys’ OnTrak solution–contracted with a growing number of national and regional health plans–is designed to improve member health and, at the same time, lower costs to the insurer for underserved populations where behavioral health conditions cause or exacerbate co-existing medical conditions. The solution utilizes proprietary analytics and proprietary enrollment, engagement and behavioral modification capabilities to assist members who otherwise do not seek care through a patient-centric treatment that integrates evidence-based medical and psychosocial interventions along with care coaching in a 52-week outpatient treatment solution.
OnTrak is currently improving member health and, at the same time, is demonstrating reduced inpatient and emergency room utilization, driving a more than 50 percent reduction in total health insurers’ costs for enrolled members. OnTrak is currently available to members of several leading health plans in Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, North Carolina, New Jersey, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin. For further information, please visit catasys.com.