Oak Street Health to Enter 19th State With Expansion Into Oklahoma, Missouri and New Mexico

Rhea-AI Summary

Oak Street Health (NYSE: OSH) announced its expansion into Oklahoma, Missouri, and New Mexico, marking a significant growth in its value-based primary care model for older adults. With plans to open centers in Oklahoma City, Tulsa, St. Louis, and Albuquerque this fall, the company will increase its operational states to 19. Following new centers in Georgia, Alabama, Kentucky, Louisiana, and South Carolina, Oak Street aims to establish 38-42 centers by late 2021, potentially benefiting up to 147,000 additional patients.

Positive

• Expansion into three new states, significantly increasing geographical presence.
• Plans to open 38-42 new centers, representing strong growth potential.
• Potential to serve an additional 147,000 older adults, addressing a critical care gap.
• Proven track record with a 51% reduction in hospital admissions and a Net Promoter Score of 90.

Negative

• None.

Oak Street Health, Inc. (NYSE: OSH, or the “Company”), a network of value-based primary care centers for adults on Medicare, today announced its plans to enter Oklahoma, Missouri and New Mexico, bringing its innovative model of care to thousands of new older adults across the country. The Company will open centers in Oklahoma City, Tulsa, St. Louis and Albuquerque this fall, increasing the number of states with Oak Street Health centers to 19.

The significant expansion follows Oak Street Health’s recently announced entry into Georgia and Alabama this summer and Kentucky this fall. The Company also opened its first centers in Louisiana and South Carolina this spring. In total, Oak Street Health plans to enter eight new states and open 38-42 new centers by the end of 2021. This growth represents an expectation of an additional 1,300 to 2,100 new center-based team members and the capacity to care for up to an additional 147,000 new older adults.

“Oak Street Health is unwavering in its commitment to delivering exceptional primary care to older adults across the country,” said Mike Pykosz, Chief Executive Officer of Oak Street Health. “I am incredibly proud of the work our team does each and every day to ensure access to high-quality preventive care, and our national expansion is a testament to that. As we continue on our mission to rebuild healthcare as it should be, we look forward to caring for new patients, welcoming new team members to the Oak Street Health family, and improving health outcomes and positively impacting communities across the country.”

Oak Street Health patients can expect an unmatched healthcare experience that includes quality time with their provider in-person or via telehealth visits; a 24/7 patient support line; individualized, preventive care plans; and access to transportation to and from the center for eligible patients. Additional services, such as behavioral health care, social health support and Medicare education classes, are also offered to help older adults meet their unique needs in one convenient location.

Since its founding in 2012, Oak Street Health has driven an approximately 51% reduction in patient hospital admissions compared to Medicare benchmarks, a 42% reduction in 30-day readmission rates and a 51% reduction in emergency department visits, all while maintaining a Net Promoter Score of 90 across patients. Oak Street Health will accept multiple health plans at all locations, including traditional Medicare.

To learn more about Oak Street Health’s value-based primary care model, click here.

Source: Oak Street Health

About Oak Street Health

Founded in 2012, Oak Street Health is a network of value-based primary care centers for adults on Medicare. With a mission of rebuilding healthcare as it should be, the Company operates an innovative healthcare model focused on quality of care over volume of services, and assumes the full financial risk of its patients. Oak Street Health currently operates more than 85 centers across 13 states. To learn more about Oak Street Health’s proven approach to care, visit oakstreethealth.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210513005170/en/

FAQ

What new states is Oak Street Health expanding into?

Oak Street Health is expanding into Oklahoma, Missouri, and New Mexico.

How many new centers does Oak Street Health plan to open?

Oak Street Health plans to open 38-42 new centers by the end of 2021.

What is the impact of Oak Street Health's expansion on patient care?

The expansion will potentially allow Oak Street Health to serve an additional 147,000 older adults.

What are the recent states Oak Street Health has entered?

Recently, Oak Street Health entered Georgia, Alabama, Kentucky, Louisiana, and South Carolina.