Oak Street Health to Enter Georgia, Extending Its National Footprint to 14 States

Rhea-AI Summary

Oak Street Health (NYSE: OSH) expands its value-based primary care model to Atlanta, Georgia, this summer, marking its entry into the 14th state. The company is also set to open new centers in existing markets, including Brooklyn, NY, and South Philadelphia, PA, this spring. Additionally, Oak Street is entering Louisiana and South Carolina, with centers opening in New Orleans and Baton Rouge. The company highlights its success in reducing patient admissions and emergency visits while maintaining high patient satisfaction.

Positive

• Expansion into Georgia, Louisiana, and South Carolina increases market presence.
• 51% reduction in hospital admissions compared to Medicare benchmarks.
• 42% reduction in 30-day readmission rates.
• 51% reduction in emergency department visits.
• High patient satisfaction with a Net Promoter Score of 90.

Negative

• None.

Oak Street Health, Inc. (NYSE: OSH) (the “Company”), a network of value-based primary care centers for adults on Medicare, will bring its innovative model of care to older adults in Atlanta, Georgia this summer, marking its 14th state. The Company will also expand into new cities in states where it already has a presence, including South Bend, IN in March; as well as Houston, Tyler and Longview, TX; and Queens, NY later this year. In addition, Oak Street Health is opening new centers in existing markets, including two centers in Brooklyn, NY and a center in South Philadelphia, PA, all anticipated to open this spring.

This significant expansion follows the news that Oak Street Health will be entering Louisiana and South Carolina, with initial center openings planned for the spring. In addition to its first Louisiana center in New Orleans, the Company is planning to enter Baton Rouge later this year.

“Oak Street Health has worked tirelessly to keep our patients safe and healthy throughout the COVID-19 pandemic,” said Mike Pykosz, Chief Executive Officer of Oak Street Health. “The pandemic has shined a light on the need for higher quality care for older adults. That’s why it is more important than ever for Oak Street Health to continue our national expansion, ensuring that older adults across the country have access to the critical primary care they so deserve. We look forward to bringing our care model to the state of Georgia and several other new cities in the coming months as we continue on our mission of rebuilding healthcare as it should be.”

Oak Street Health patients can expect an unmatched healthcare experience that includes quality time with their provider in-person or via telehealth visit; 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, 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 Illinois, Michigan, Ohio, Pennsylvania, Texas, Indiana, North Carolina, Rhode Island, Tennessee, New York and Mississippi. To learn more about Oak Street Health’s proven approach to care, visit oakstreethealth.com.

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FAQ

What new states is Oak Street Health expanding into in 2023?

Oak Street Health is expanding into Georgia, Louisiana, and South Carolina.

What are the anticipated openings for Oak Street Health in 2023?

Anticipated openings include centers in Atlanta, New Orleans, and Baton Rouge.

How many states does Oak Street Health operate in now?

Oak Street Health will operate in 14 states following the expansion.

What is the impact of Oak Street Health's care model on hospital admissions?

The company has achieved a 51% reduction in patient hospital admissions compared to Medicare benchmarks.

When will Oak Street Health open new centers in Brooklyn and South Philadelphia?

New centers in Brooklyn and South Philadelphia are expected to open this spring.