Castlight Health Inc. (NASDAQ: CSLT) stock showed a gain of 8.38% in the last trading session while in pre-market trading on Monday the CSLT stock was up by 2.21%. There isn’t any recent news hitting the media related to this change in CSLT stock. Castlight Health is a healthcare navigation company that provides comparison tools and quality indicators for tests and procedures provided by healthcare providers. This platform is authorized by a business-to-business-based model.
On March 4, CSLT announced the addition of three new clinical advisors in their team.
- Bruce Sherman, M.D has been appointed as the advisor to the National Alliance of Healthcare Purchaser Coalitions.
- The position of vice chair and director, Division of Child Psychiatry at Weill Cornell Medicine, has been given to Justin Mohatt.
- Lastly Mohannad kusti has been declared as regional medical director at Pivot Onsite Innovations.
It is believed that these new clinical advisors will be of great support for the reputation and efficient working of CSLT. They are expected to provide guidance in various areas which include instructions for the clinical care of unprotected population, best practices for measuring provider clinical efficiency, and robust methodologies for determining the results of our interventions.
Another significant development made by Castlight Health is their new COVID-19 vaccine navigation feature installed directly into the Castlight app. It is expected that COVID-19 vaccine availability will increase in the coming months, the new feature is made to provide employers with a simple, centralized resource that allows workers to manage COVID-19 vaccine eligibility and availability, as well as access important educational content aimed at enhancing vaccine literacy.
Financial Results 2020
On February 23, Castlight Health announced its financial results for the year 2020. According to the CEO of CSLT, Castlight has delivered promising financial results in the year 2020 and has achieved several significant goals that includes adding a new health plan customer and Blue Cross Blue Shield of Alabama. In December Castlight sealed a partnership with Boston Children’s Hospital with the idea to support the national vaccination effort, and also delivering strong results from our first year live with Care Guides. To give an example, GAAP total revenue generated by Castlight was $37.1 for the fourth quarter 2020 as compared to $36.4 for the same period in 2019. This clearly shows that CSLT has managed to make better progress in 2020 compared to the previous year.