Ontrak is a behavioral healthcare company that contracts with health plans to identify and treat members whose unaddressed behavioral health conditions — primarily anxiety, depression, and substance use disorder — are driving high medical costs through worsening physical conditions like diabetes and hypertension. Ontrak's core product, WholeHealth+, is a 12-month program that uses AI and claims-based analytics to identify high-cost members with likely unaddressed behavioral health needs, then enrolls those members through high-touch outreach and connects them with care coaches, therapists, psychiatrists, and addiction specialists via telehealth or in-person visits. Ontrak sells exclusively to health plans — national and regional insurers covering Medicaid, Medicare Advantage, and commercial populations — and generates revenue on a per-member-per-month (PMPM) basis for enrolled members. Revenue scales with the size of the outreach pool authorized by health plan contracts, enrollment rates, and the resulting census of active members. Ontrak also offers Engage, a lower-acuity coaching-only product at a lower PMPM rate. The cost structure is primarily people-driven, with care coaches hired in advance of new customer launches. Customer concentration is a notable risk given Ontrak's small number of health plan relationships. Growth is driven by winning new health plan customers and expanding within existing ones, following a pilot-then-expand model. Ontrak is also pursuing recognition as a value-based provider rather than a vendor, which would allow its services to be reimbursed through medical cost budgets via CPT billing codes rather than administrative budgets.