Corporate News Blog – Catasys Announces Launch of Enrollment for OnTrak-HC with Blue Cross Blue Shield Health Insurer

Research Desk Line-up: DaVita Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Catasys, Inc. (NASDAQ: CATS), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CATS. The Company announced on August 09, 2017, that it has commenced enrollment under the previously announced contract for its OnTrak-HC program in Oklahoma with the nation’s second largest Blue Cross Blue Shield Health Insurance Plan. OnTrak-HC will cover depression, anxiety, and substance use disorders in Oklahoma, and is expected to launch in new states in the coming month. Blue Cross Blue Shield Health Insurance Plan is the country’s largest non-public health insurer and the fourth-largest health insurer overall, with health plans in Texas, Illinois, New Mexico, and Montana. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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The Announcement

Catasys expects the recent launch of OnTrak-HC in a Texas Medicaid population; the corrected data feed and expansions of OnTrak-A; and now the launch of OnTrak-HC, along with future contracts, launches, and expansions, point to significant billings growth and an accelerated billings growth rate in Q2 2017, Q4 2017, and in 2018. The Company announced that it would provide additional details in its upcoming quarterly call on August 15, 2017.

Catasys’ OnTrak solution is contracted with different numbers of national and regional health plans and 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. This announcement is the third launch in the last few months, according to the Company, where with each subsequent launch, the Company is considerably increasing the number of enrolled members. Catasys stated that new OnTrak programs have historically taken about 12 months ramp to full enrollment of 20%. However, with these new launches, the Company is optimistic that it would be able to shorten the timeframe to full enrollment.

OnTrak

Anxiety, depression, and substance use disorder comprise about 75% of all behavioral health diseases. Catasys estimates that 43 million adults in the United States have an anxiety disorder; 27 million adults have a substance use disorder, and about 16 million people suffer from depression. OnTrak is aimed at improving member health, and demonstrating reduced inpatient and emergency room utilization, driving over 50% reduction in total health insurers’ costs for enrolled members.

The Program Expansion Drive

Catasys announced on August 01, 2017, that it has expanded its OnTrak-A program with one of the nation’s leading health insurance provider to now include anxiety in three states: Illinois, Kansas, and Missouri. This planned expansion into anxiety provided the Company the opportunity to treat a wider populace among an expanding portion of the health insurance provider’s medical members, with over 23 million members across the country.

Prior to the announcement, on June 01, 2017, Catasys announced that it is now receiving all of the member data expected from a national health insurance plan, which allowed it to ramp enrollment for OnTrak-A in eight contracted states. Under the announcement, Catasys stated that the previously announced data issues on the customer’s end, which prevented the Company from properly identifying members, had been resolved. Catasys’ OnTrak program is designed to improve patient health while lowering the costs to the insurer for underserved populations in which behavioral health conditions are exacerbating co-existing medical conditions.

Last Close Stock Review

On Thursday, August 10, 2017, the stock closed the trading session at $4.60, marginally up 0.66% from its previous closing price of $4.57. A total volume of 24.10 thousand shares have exchanged hands. Catasys’ stock price rallied 4.78% in the last one month and 6.98% in the past three months. The stock currently has a market cap of $72.40 million.

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