Cast­light, Leapfrog part­ner on an­a­lyt­ics

Modern Healthcare - - NEWS - By Joseph Conn

Two or­ga­ni­za­tions are join­ing forces to ad­vance the move­ment to­ward greater health­care price and qual­ity trans­parency.

Cast­light Health, the health in­for­ma­tion tech­nol­ogy ven­dor that just launched a strong ini­tial pub­lic of­fer­ing, is en­ter­ing a data-shar­ing agree­ment with the Leapfrog Group.

Wash­ing­ton-based Leapfrog, a not­for-profit health­care qual­ity or­ga­ni­za­tion founded in 2000 by the Busi­ness Round­table, has been con­duct­ing sur­veys on hospi­tal safety and qual­ity met­rics since 2001. At the time, it went be­yond what was then cut­ting-edge health­care tech­nol­ogy, to cham­pion the adop­tion of elec­tronic healthrecord sys­tems with com­put­er­ized physi­cian or­der en­try ca­pa­bil­i­ties.

Leapfrog re­ported that more than 1,400 hos­pi­tals re­sponded to its an­nual sur­vey last year. Those re­sults and other sur­vey data will be in­volved in the part­ner­ship, ac­cord­ing to a news re­lease.

Cast­light, which sells price trans­parency prod­ucts and ser­vices to self­in­sured em­ploy­ers, will take its first look at Leapfrog data on early elec­tive de­liv­er­ies and in­fec­tions. It will pro­vide an anal­y­sis of the sur­vey data na­tion­wide, by re­gion and by each of 28 sur­vey met­rics, ac­cord­ing to the re­lease.

The Cast­light anal­y­sis will be part of a Leapfrog re­port due out this spring eval­u­at­ing hos­pi­tals on qual­ity and safety.

“We are hon­ored to part­ner with the Leapfrog Group on this im­por­tant ini­tia­tive,” said Dr. Jennifer Sch­nei­der, vice pres­i­dent of strate­gic an­a­lyt- ics for San Fran­cisco-based Cast­light.

Cast­light’s shares de­buted March 14 on the New York Stock Ex­change with an of­fer­ing price of $16. The com­pany promptly made busi­ness news head­lines when its share price zoomed and even­tu­ally bid up to $39.80 at the close of the mar­ket for an open­ing day mar­ket cap­i­tal­iza­tion re­ported at $3.9 bil­lion.

Cast­light’s soar­ing share price, com­pared with the com­pany’s $13 mil­lion in rev­enue for 2013, had some an­a­lysts rem­i­nisc­ing about the frothy days of the dot­com bub­ble in the late 1990s.

Cast­light shares flut­tered down closer to earth, clos­ing in­cre­men­tally lower each day through Wed­nes­day, ral­ly­ing a bit Thurs­day, then clos­ing at $29.35 Fri­day, down 26% from their open­ing-day high.

The Cast­light anal­y­sis, in­clud­ing graph­ics, will be part of a Leapfrog re­port this spring eval­u­at­ing hos­pi­tals on qual­ity and safety.

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