Ontrak, Inc.

Thank you for standing by, and welcome to OnTrack Health's fourth quarter. And you're in 2023 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Ryan Halstead, Investor Relations. Please.

Thank you, Operator, and thank you all for participating in today's call. Joining me today are Brandon Laverne, Chief Executive Officer and Chief Operating Officer, Mary Lou Osborne, President and Chief Commercial Officer, and James Park, Chief Financial Officer. Earlier today, OnTrack released financial results for the quarter ending December 31, 2023. A copy of the press release is available on the company's website. Before we begin, I would like to make the following remarks concerning forward-looking statements. All statements in this conference call other than historical facts are forward-looking statements. The words anticipate, believes, estimates, expects, intends, guidance, confidence, targets, projects, and some other expressions typically are used to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, but may involve and are subject to certain risks and uncertainties. Other factors that may affect ONTRAC's business, financial condition, and other operating results, which include but are not limited to the risk factors described in the risk factors section of the Form 10-K and Form 10-Q as filed with the SEC. Therefore, actual outcomes and results may differ materially from those expressed or implied by these forward-looking statements. OnTrack expressly disclaims any intent or obligation to update these forward-looking statements. With that, I'd like to turn the call over to Brandon.

Thank you, Ryan. We're excited to provide updates on the momentum in our pipeline and how OnTrack's continued innovation with the advanced engagement system is addressing the needs of our customers and building demand with prospective customers. Mary Lou will go into details with respect to prospects shortly. We also recognize our Medicare Advantage health plan customers are facing a challenging macro environment at the moment, which represent opportunities for OnTrack and our value proposition to help our health plan partners better serve their members in a cost-efficient manner. But first, allow me to cover highlights from the recent quarter. Aside from new business development opportunities that Mary Lou will discuss, we focus this quarter on continued innovation and technology focus. As we continue to develop our AI-infused technology we are able to offer increased efficiencies and higher ROI to our customers and pipeline while maintaining our patient-centered focus. We recently introduced OnTrack's Advanced Engagement System to maximize more efficient and effective engagement by integrating AI throughout the member experience. The OnTrack Advanced Engagement System enables member engagement at greater scale and with greater efficiency than ever before. We have achieved a member outreach success rate of 54% across all lines of business, which is more than double what we believe is the industry standard. The advanced engagement system is made up of multiple components, starting with a risk-based analytics engine, which uses AI algorithms to identify members and prioritize outreach based on factors like risk, readiness, acuity, claims, prescriptions, and enrollment history. Our engine can find hard-to-reach, high-risk members, for example, members with high predicted probability of substance use disorder or depression, but no associated diagnosis in existing health records. As a result, 20% to 30% of our members obtain new behavioral health diagnoses after enrollment in the OnTrack Whole Health Plus program, improving risk scores for these members. The next component of the advanced engagement system is our AI-driven coach notes, which converts spoken interactions into text, significantly reducing the time care coaches spend recording engagement notes, resulting in increased care coach capacity of up to 20%. while our care signals engine flags and facilitates timely and relevant care interventions. The care signals indicate important events like new diagnoses, new medications, work stress, and key factors that influence wellness, enabling care coaches to proactively engage with members in advance of additional medical issues by setting revised goals and providing targeted coaching support. Our next best action engine then offers immediate data-driven recommendations to optimize care coaching interactions leading to a 25% reduction in time spent organizing schedules and tasks across caseloads, while ensuring that resources are prioritized where they're needed most. In certain cases, the next best action engine will trigger the built-in AI virtual assistant, which offers members an opportunity to engage with their on-track care team in more ways than ever before. To ensure on-track care coaches adhere to best practices, AI-powered tools monitor for quality and fidelity. These technologies evaluate care delivery and offer care coaches real-time feedback into how well their interactions are serving members. The infrastructure that supports certainly these dynamic capabilities is comprised of advanced data management systems, which have generated savings of 80% in the pipeline maintenance cost and delivered nearly 90% shorter turnaround times. Our data exchange platform efficiently simplifies management of electronic data interchange while effectively complying with federal requirements and best practices in the industry. Our infrastructure enables provider interoperability, or the ability to exchange and use health information, through HITRUST-certified industry standard frameworks. This creates a closed-loop, bidirectional data-sharing ecosystem, seamlessly connecting providers, specialists, and on-track care coaches. Finally, through our proprietary provider matching engine, we match members with the right provider, reducing the stress of members on their own attempting to select the most suitable provider. Our technology taps into OnTrack's 45-state behavioral health network to evaluate more than a dozen specialties and 30 subspecialties, performance and outcomes, as well as mode of delivery, diversity, and demographics. Optimized provider matching helps drive remarkable clinical outcomes when members and providers are aligned in care. We've seen a greater than 50% clinically significant reduction in anxiety and depression symptoms evidenced by their GAD-7 and PHQ-9 scores for members in our Whole Health Plus program. In addition to announcing the rollout of our Advanced Engagement System, we're integrating the Recovering Quality of Life Assessment, or REQUAL, into our Whole Health Plus suite of products and services. Originally developed by the Oxford University Innovation Lab, the integration of REQUAL aligns perfectly with our focus on providing person-centered, measurement-based care for individuals dealing with mental health and substance use conditions. REQUAL assessments are utilized to assess how mental health conditions, psychological interventions, and healthcare treatments affect patients' lives. These assessments prioritize understanding the individual beyond diagnosis, aligning with recovery-oriented approaches. As we adopt these assessments into OnTrack Whole Health Plus, I'm proud to share that we secured official recognition from the Oxford University Innovation Lab as an authorized licensee, serving as a testament to our focus on continued innovation and to improving outcomes through measured feedback. We recognize our Medicare Advantage health plan customers are facing a challenging macro environment, including funding pressures, declining star ratings, elevated utilization trends, and narrowing benefits packages. We believe this macro environment presents an opportunity for OnTrack's product offerings. We're well positioned to help our health plan partners better identify and engage their respective memberships to best utilize critical behavioral health benefits. Our technology, care coaches, and human-centered approach integrate behavioral and physical health, and can better identify and engage patients across the acuity spectrum. OnTrack's Whole Health Plus program drives lower hospitalization and inpatient utilization for Medicare Advantage Plan Partners membership. Our program of continuous mental health assessments is also proven to improve health outcomes of OnTrack Health members and increase engagement, which can contribute to the improvement in quality scores of health plan partners. These quality scores are critical to maintaining or increasing a plan star rating, which is a key driver of membership growth. OnTrack's Whole Health Plus program is more important than ever and very well aligned to help solve for these macro issues that Medicare Advantage plans are facing today by delivering proven health outcomes and reducing costs while also increasing engagement, leading to increased quality scores. We are confident in our value proposition to health plan partners and are seeing continued demand in our recent customer expansions and further progress in our pipeline as a result. Finally, we are pleased to have successfully completed our latest round of structured financing that James will highlight in a few minutes. This funding provides us with additional runway to finance and execute our growth initiatives and reflects underlying confidence among our largest investors in our pipeline and prospects. These encouraging developments, including new signature, sales momentum, clinical outcomes, and technological enhancements, underscores the strength of our strategy, the power of our product, our dedication to our customers and members, and the hard work of all of our employees. Now I'll pass it over to Mary Lou Osborne, who will provide further insight into our new customer and other exciting developments in our pipeline. Mary Lou?