Ontrak Health Announces Continuing Expansion with Sentara Health
12 März 2024 - 1:00PM
Business Wire
Ontrak Health (NASDAQ: OTRK), a leading AI-powered and
tech-enabled behavioral healthcare company, today announced a
continuing expansion of its strategic partnership with Sentara
Health in the Commonwealth of Virginia.
This new expansion offers Ontrak’s WholeHealth+ program to
eligible self-insured groups and follows on the heels of the
commercial expansion announced on February 29 with Sentara Health
Plans, the health plan division of Sentara.
Together, these two expansions initially represent more than 6.5
times increase in the number of Sentara Health Plans members
eligible for the Ontrak WholeHealth+ program with further
opportunity to grow as more self-insured groups are brought on
board. Outreach has already begun for these new eligible
populations. Ontrak Health and Sentara Health Plans are also
jointly working to launch Ontrak’s innovative Advanced Engagement
System more broadly across Sentara Health Plan’s commercial
population.
Mary Lou Osborne, President and Chief Commercial Officer of
Ontrak Health, stated, “This new development solidifies the trust
that Sentara has placed in Ontrak Health, in offering Ontrak’s
WholeHealth+ program to eligible Commercial self-insured
populations. This is a testament to the strong partnership
developed between Sentara and Ontrak over our 5 years of working
together. I’m thrilled about future opportunities with additional
populations to leverage Ontrak’s unique capabilities to serve
members in need of behavioral health support.”
About Ontrak, Inc.
Ontrak, Inc. is a leading AI and telehealth-enabled healthcare
company, whose mission is to help improve the 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 socio-economic, 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.
About Sentara Health
Sentara Health, an integrated, not-for-profit health care
delivery system, celebrates more than 130 years in pursuit of its
mission - "we improve health every day." Sentara is one of the
largest health systems in the U.S. Mid-Atlantic and Southeast, and
among the top 20 largest not-for-profit integrated health systems
in the country, with 30,000 employees, 12 hospitals in Virginia and
Northeastern North Carolina, and the Sentara Health Plans division
which serves more than 1 million members in Virginia and Florida.
Sentara is recognized nationally for clinical quality and safety,
and is strategically focused on innovation and creating an
extraordinary health care experience for our patients and members.
Sentara was named to IBM Watson Health's "Top 15 Health Systems"
(2021, 2018), and was recognized by Forbes as a "Best Employer for
New Grads" (2022), "Best Employer for Veterans" (2022, 2023), and
"Best Employer for Women" (2020).
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 timing and size of launch of the current and
future expansions. 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, dependence on key
personnel and the ability to recruit, retain and develop a large
and diverse workforce; high customer concentration and the ability
of our customers to terminate our contracts for convenience;
intense competition and substantial regulation in the health care
industry; 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; the adequacy of our existing cash resources and
anticipated capital commitments to enable us to continue as a going
concern; our ability to raise additional capital when needed; lack
of outcomes and statistically significant formal research studies;
difficulty enrolling new members and maintaining existing members
in our programs; the risk that the treatment programs might not be
effective; difficulty in developing, exploiting and protecting
proprietary technologies; general economic conditions, nationally
and globally, and their effect on the market for our services,
competitive pressures and trends in our industry and our ability to
successfully compete with our competitors, and changes in laws,
regulations, or policies. 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.
Learn more at www.ontrakhealth.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240312126484/en/
Company Contact: Brandon LaVerne Chief Executive Officer and
Chief Operating Officer blaverne@ontrakhealth.com
Investor Relations: Ryan Halsted Gilmartin Group
investors@ontrakhealth.com
Sentara Contact: news@sentara.com
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