Castlight Health

Castlight Health, Inc.
Public
Traded as NYSE: CSLT (Class B)
Russell 2000 Component
Founded 2008
Key people
 Giovanni Colella, MD Former CEO and Founder. John Doyle CEO, Derek Newell President
Decrease US$ (58) million loss(2016)[1]
Website www.castlighthealth.com

Castlight Health is a San Francisco based healthcare price transparency company.[2] Castlight tools allow patients to see the prices of surgeries and other medical services at different providers. Castlight introduced consumer healthcare price transparency tools in 2008. Castlight is headquartered in San Francisco and is traded on the New York Stock Exchange as CSLT.

The Castlight platform is licensed through a business-to-business-based subscription model. Only employees of companies that have purchased subscriptions have access to the Castlight platform, but Anthem Blue Cross will provide commercial members with access to Castlight's core transparency tool.[3] In 2012 the company secured $100 million in investment funds.[4] In 2014 the company had its initial public offering,[5] valued at $2 billion, which attracted criticism for being part of an economic bubble. The stock has steadily declined from its IPO price and has lost more than 90% of its value.[6][7]

Contributions to Research

Castlight Health has developed a number of research papers in conjunction with outside parties in regards to health and healthcare issues.

Association between availability of health service prices and payments for these services[8]

The study shows that patients who use a transparency application to research healthcare prices pay less for certain services.

Computerized Physician Order Entry (CPOE) Systems and Medication Errors [9]

The report examines the use of CPOE systems for prescribers to enter medication orders into a computer system and transmit them electronically to a pharmacy. Studies suggest CPOE systems can substantially reduce medication errors, the most common mistakes made in hospitals.

References

  1. ↑ "Form 10-K (2016)". www.sec.gov.
  2. ↑ [Healthcare 2.0] October 2012 Inc. page 58-63
  3. ↑ "Anthem Blue Cross and Blue Shield and Castlight Health Announce Strategic Collaboration". press release. November 4, 2015. Retrieved November 4, 2015.
  4. ↑ Rip Empson Castlight Lands A Whopping $100M D Round To Bring Transparency To Healthcare Costs May 1, 2012 Techcrunch
  5. ↑ "U.S. IPO Recap: Castlight Health's 149% Pop Shows Healthy Tech Demand". Seeking Alpha. March 18, 2014. Retrieved 20 March 2014.
  6. ↑ Hay, Timothy (March 29, 2014). "Veteran VC Says Beware of Health IT Bubble: Not Enough 'Actual Business Plans'". Wall Street Journal. Retrieved 29 March 2014.
  7. ↑ "CSLT Historical Prices | Castlight Health, Inc. Class B Stock - Yahoo Finance".
  8. ↑ "Association between availability of health service prices and payments for these services". The Journal of the American Medical Association.
  9. ↑ "Computerized Physician Order Entry (CPOE) Systems and Medication Errors" (PDF). Leapfrog Group.
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