Castlight, Leapfrog partner on analytics
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.