When health plans look at the cost of addiction, they look at how much of the behavioral health dollars are being spent on addiction. Unfortunately, they find that only 6% of the costs show up on treatments while 94% of the costs show up on the medical side, in terms of emergency room visits, readmittance, etc. Hythiam, Inc. (OTCBB: HYTM) has positioned itself to change these economic dynamics and the industry is apparently taking notice. Through its Catasys subsidiary, the company provides specialized behavioral health management services to health plans, employers, and unions through a network of licensed and company managed health care providers. The Catasys substance dependence program was designed to address substance dependence as a chronic disease. The company may finally be on the verge of announcing significant contracts—a major step which has eluded the publicly traded small-cap company for some time.
According to analysts, a contract with a major health plan provider would not only support, but also validate Hythiam’s innovative, proprietary and integrated substance dependence treatment program, that combines medical interventions, psychosocial therapy and care coaching that many see as a less expensive and effective treatment option. Hythiam, Inc. (OTCBB: HYTM) is currently trading at $0.26, up $0.05 or 23.81%.
In an exclusive interview which appears at BioMedReports.Com today, Terren S. Peizer, CEO of Hythiam, says: "We are in the right place, at the right time, we finally have the goods and we have all these tailwinds at our back with health plans across the country to come up with a solution and we have the only integrated solution, the only easily plug and play solution, the only one that they can adopt in the next year. It's exciting. It's been a long road. It's been a very bumpy road, mostly down over the last 2 years, but I think we're on our way now."
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