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Giovanni Colella, Castlight Health CEO & co-founder, on Castlight and the cost of health-care.
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Eighty million dollars joining us now do you money -- -- CEO and founder of cast light help.
You money to take any time to view -- -- first we should explain to people that this is most elite for companies that self insure correct.
That is correct this for a company that self -- which means they're taking their risk in their insuring their own employees.
Right so they basically create this big pot of medical expenses.
And then your company comes in and offers its software because -- if I'm spending money out of the pot I think media take more ownership of -- I spend it right.
-- -- -- what is happening with the escalating cost of care of people are asking their employees and companies are asking their -- to pay more more out of pocket.
And so the moment this come if you ask people to pay to tell them what they're paying for what they will be paying for and the quality what they're paying for and that's where we can.
OK so tell us how your product works.
Our product as a portal that gets offered to employees of companies that.
Allows them to understand before they walk into -- doctor's office what they will be pain.
And gives the ranking on the quality and outcomes of this office so really it's a price transparency -- -- and a quality assessment tool.
Not that different that what happens if for example in the airline industry now where you have companies that show you.
Different airlines different prices different rock groups they can take -- out at.
And that's -- -- you know.
The -- how much the procedure costs in the quality of the doctor giving -- you and I got to presume there's a correlation between the -- but people probably don't realize that.
I know.
-- Jersey California -- -- -- did the study.
An appendectomy can cost anywhere from 151000.
To 150000.
I mean who would have thought -- -- been such.
The discrepancy.
Yeah up until now -- wasn't the technology that provided you visibility on price and cost and so people we didn't realize that there's an enormous enormous sense.
Differences in price in within the same zip code.
We have -- noticed in the San Francisco area defenses for procedures like colonoscopy from 500 to 5006000.
Dollars.
Sometimes is in the same zip code and sometimes even the same doctor but working different facilities -- so we're trying to bring some transparency to all of this.
Snag some honesty to these -- -- You billing yourself as the travelocity.
Of health care and hopefully people will get tax cast light health check it out to give money.
-- -- -- -- -- -- -- -- -- -- -- -- Thank you for inviting me.
All we want is some clarity as -- -- -- right -- -- reporting earnings after the bell today so locals question is walk away.
