LOS ANGELES, Sept. 30, 2015 -- Catasys, Inc. (CATS) , a provider of proprietary big data based analytics and predictive modeling driven behavioral health management services for health plans, announced today that it has begun enrolling members in its OnTrak Program with Health Alliance Medical Plans (Health Alliance) in Illinois. In April, Catasys and Health Alliance announced a multi-year agreement for the OnTrak Program.
Health Alliance is the largest health insurer in downstate Illinois, and serves more than 400,000 members in Illinois, Iowa, Nebraska and Washington. Health Alliance Medical Plans is one of the two highest rated HMO/POS plans in Illinois with a rating of 4 out of 5 in the National Committee of Quality Assurance (NCQA) Private Health Insurance Plan Ratings, 2015-2016. Health Alliance is also one of the top four Medicare HMOs in Illinois with a rating of 4.5 out of 5 in NCQA's Medicare Health Insurance Plan Ratings, 2015-2016.
"We are pleased to have the Catasys program as a resource for our members," said John P. Beck, MD, FAPA, Health Alliance Vice President and Chief Medical Officer. "Catasys offers a unique program, which we believe is a great complement to our services and adds significant value for our members who suffer from medical and behavioral conditions."
"We are excited to be able to begin offering OnTrak for Health Alliance's eligible fully insured commercial, Medicare Advantage and Medicaid members. We will continue to work with Health Alliance to provide programs to improve the health of their members. We look forward to continuing to expand our services in Illinois with Health Alliance and other health plans," said Rick Anderson, Catasys President and COO.
The OnTrak program is designed to improve patient health while lowering costs to the insurer for underserved populations in which behavioral health conditions are exacerbating co-existing medical conditions. OnTrak has demonstrated effectiveness with a 50% reduction in health care costs for members enrolled in the program as well as reductions in hospital days, ambulance usage, emergency room visits and more thorough identification, engagement and treatment. Catasys currently operates programs in Florida, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, New Jersey, Oklahoma, West Virginia and Wisconsin.
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 program. Catasys' OnTrak program--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 cause or exacerbate co-existing medical conditions. The program 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 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 percent reduction in total health insurers' costs for enrolled members. Catasys currently operates OnTrak in Florida, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, New Jersey, Oklahoma, West Virginia and Wisconsin. For further information, please visit catasys.com.
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, 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, our inability to recognize revenue, lack of outcomes and statistically significant formal research studies, difficulty enrolling new and maintain existing members in our programs, the risk that treatment programs might not be effective, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the health care industry, the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern, our ability to raise additional capital when needed and our liquidity. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plan," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words other comparable words to be uncertain and forward-looking. 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 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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