Castlight Health, the big data company that made headlines in March when its initial public offering valued the company at more than $2 billion, has given the healthcare industry a glimpse into its data capabilities with a new map showing healthcare cost variations around the country.
The map displays the average price and price range for four common medical services: lipid panel, preventative primary care visit, head/brain CT scan and lower back MRI. The map was compiling using medical claims data in conjunction with provider information and providers' rate sheets that show the actual, negotiated price of a specific service.
The map gives an indication of what Castlight Health's proprietary software can do. Castlight Health's cloud-based tools track healthcare costs, such as physician visits or laboratory results, giving employers, healthcare organizations and others a better idea where healthcare resource efficiency could be improved.
In May, Castlight Health reported total revenue of $8.4 million for the first quarter, a 339 percent increase over the first quarter of 2013.
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