The Wall Street Journal has a report on a successful IPO by a San Francisco based cloud software company called Castlight. A related Journal analytical report explains that the IPO was successful because there's money to be made in controlling healthcare costs. Castlight advises self-insured employers on this matter. The Leapfrog Group, which was created by the National Roundtable to assess health care quality, just retained Castlight for a big project. Modern Healthcare explains
Castlight, which sells price transparency products and services to self-insured employers' systems, 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, including graphics, will be part of a Leapfrog report this spring evaluating hospitals on quality and safety.Why aren't the actuarial consulting services providing this service?
Speaking of improving quality, Modern Healthcare reports on a survey on physician participation in accountable care organizations or ACOs--
The results, published online in the journal Health Services Research, show that roughly 6 of 10 physician groups have so far avoided accountable care, a proliferating payment model that rewards and penalizes hospitals and doctors based on their ability to meet cost and quality targets. Medicare accountable care efforts, launched in 2012 under the Patient Protection and Affordable Care Act, now include more than 350 organizations. Private insurers have entered into more than 600 accountable care contracts, according to estimates by healthcare consultant Leavitt Partners. When measured against an index of 25 measures of care management, patient engagement and quality, the physician practices with no plans to join an ACO scored lowest, the study said. Medical groups already under accountable care contracts ranked highest. One-quarter of survey respondents were in ACOs. The survey included roughly 1,180 medical groups that researchers adjusted to reflect a nationally representative sample. Another 15% planned to join an ACO soon.
Courts have generally tended to dismiss consumer class-action lawsuits filed against companies that suffer data breaches if victims can't show that the the breach directly caused a financial hit. A federal court in Florida broke the mold by approving a $3 million settlement for victims of a data breach in which personal health information was exposed when multiple laptops containing the unencrypted data were stolen.