It was a big day for healthcare stock Ontrak (NASDAQ:OTRK) as the company surged to heights not seen since August 2022. Shares nearly doubled in Wednesday’s trading, and it’s all thanks to the success of its behavioral health program, Wholehealth+.
Back in June, Ontrak augmented its Wholehealth+ program with some new assessments. Specifically, it started using the PHQ-9 and the GAD-7. These two assessments are designed to measure depression and anxiety issues, two major components of mental health. They’re particularly useful when used as part of a long-term program, as they work to track changes in overall mental health. The results were impressive. Wholehealth+ users saw a 30% improvement in anxiety issues and a 55% improvement in depression issues.
Perhaps better yet, Ontrak’s mental health programs have an unusual component to them: artificial intelligence. Yes, Ontrak is not only a healthcare stock, but it’s also an AI stock. That component has left some investors skeptical of its ability to treat people, but the numbers certainly do offer some hope. Framing Wholehealth+ as a supplement to human therapists might particularly help it going forward.
This news was clearly a win for Ontrak stock, as its last five trading days prove. Share prices remained quietly around $0.50 per share until nearly tripling at one point.
