Oak Street Health to Enter Alabama and Kentucky

Rhea-AI Summary

Oak Street Health (NYSE: OSH) is expanding its network of primary care centers into Alabama and Kentucky, opening locations in Birmingham, Mobile, and Louisville this summer and fall. This expansion increases their reach to 16 states, following new center openings in Louisiana and South Carolina. Oak Street aims to open a total of 38-42 new centers by the end of 2021. The company reports significant reductions in patient hospital admissions and maintains a Net Promoter Score of 90.

Positive

• Expansion into Alabama and Kentucky, increasing operational states to 16.
• Plans to open 38-42 new centers by year-end 2021, demonstrating growth.
• Reported a 51% reduction in patient hospital admissions compared to Medicare benchmarks.

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 Alabama and Kentucky, bringing its innovative model of care to thousands of new older adults. The Company will open centers in Birmingham and Mobile, and Louisville, respectively, this summer and fall, increasing the number of states with Oak Street Health centers to 16.

The expansion follows Oak Street Health’s first center openings in Louisiana and South Carolina in March and the previously announced entry into Georgia this summer. Oak Street Health has already opened 7 new centers this year, and anticipates opening 38-42 new centers in total by the end of 2021.

“The innovative care that Oak Street Health provides older adults will remain as critical after the pandemic as it was before,” said Mike Pykosz, Chief Executive Officer of Oak Street Health. “COVID-19 has certainly amplified the need for higher-quality preventive care, and we will continue working to ensure that it is available and accessible to seniors across the country. Our national expansion is a testament to our entire team who is deeply committed to our mission of rebuilding healthcare as it should be and positively impacting communities all across the country by improving health outcomes.”

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 and 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 80 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/20210408005247/en/

FAQ

What is Oak Street Health's expansion plan for 2021?

Oak Street Health plans to enter Alabama and Kentucky, opening new centers in Birmingham, Mobile, and Louisville, aiming for a total of 38-42 new centers by the end of 2021.

How does Oak Street Health's care model impact hospital admissions?

Since its founding, Oak Street Health has achieved a 51% reduction in patient hospital admissions compared to Medicare benchmarks.

What states does Oak Street Health currently operate in?

After the upcoming expansions, Oak Street Health will operate in 16 states across the U.S.

What is Oak Street Health's Net Promoter Score?

Oak Street Health maintains a Net Promoter Score of 90 across its patients.