Catasys Adds Anxiety Members to its OnTrak™ Program in Kansas
Company Expands Into New Behavioral Health Conditions
LOS ANGELES, March 26, 2015 /PRNewswire/ -- Catasys, Inc. (OTCQB: CATS), provider of proprietary health management services to health insurers and employers, announced today that it has expanded its OnTrak program with a leading national health care provider in Kansas to include members with anxiety. Now members that are considered high cost and have been diagnosed with either substance use disorders or anxiety disorders will be eligible for the program in Kansas. This move represents the Company's contractual expansion into this behavioral health condition and is anticipated to increase eligible covered lives in Kansas' population by approximately 4x.
Catasys' President and COO Rick Anderson stated, "We are very excited to be able to offer additional assistance and care to these members who are generally not receiving the care they need. We anticipate growth in the number of commercially equivalent lives that will be covered in Kansas. Expanding into areas outside of substance use disorders has always been a goal and we believe that the exacerbation of medical conditions caused by anxiety can be very similar to what we see in our members suffering from substance use disorders. Our OnTrak program is very effective in providing medical and psychosocial interventions with a care coaching component over a 52 week period. We have utilized our experience in delivering whole health integrated care and developed evidenced based treatment programs for anxiety, which will be utilized to treat enrolled members. We strive to provide the best evidence based treatment approaches to our members. We are continuing to work with our other customers to expand our anxiety program to their populations."
The OnTrak program is designed to improve patient health and also lower the costs to the insurer for underserved populations where behavioral health conditions are exacerbating co-existing medical conditions. OnTrak has demonstrated effectiveness with a 50% reduction in health plan health care cost of members enrolled in the program as well as decreases in hospital days, ambulance usage, emergency room visits, and more through identification, engagement and treatment. Catasys currently operates programs in Florida, Kansas, Kentucky, Louisiana, Massachusetts, New Jersey, Oklahoma, West Virginia, and Wisconsin.
About Catasys, Inc.
Catasys, Inc. provides specialized healthcare management services to health plans and employers 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 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. For further information, please visit www.catasys.com.
Forward-Looking Statements
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.
SOURCE Catasys, Inc.
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