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Oak Street Health (NYSE: OSH) released its inaugural Social Impact Report, showcasing how its value-based care model has positively impacted over 150,000 patients and the healthcare system. Key findings include a 51% reduction in hospital admissions and a 42% decrease in 30-day readmission rates. Additionally, the report highlights that 87% of patients completed annual wellness visits, and the company achieved high performance in Medicare quality metrics. Oak Street Health continues to expand its clinics, creating jobs and investing in local communities.
Oak Street Health has been awarded the 2022 Gold Stevie Award for Customer Service Team of the Year, recognizing its excellence in a recovery situation. The company reported a remarkable achievement with a service level of 92% of calls answered within 30 seconds in December 2021, despite a growing patient base of over 150,000. They successfully scaled their team by over 50% during 2021, overcoming pandemic-related challenges.
This award highlights their commitment to timely patient support and innovative healthcare delivery.
Oak Street Health (NYSE: OSH) reported significant financial results for 2021, achieving $1.43 billion in revenue, a 62% year-over-year increase. The company expanded its footprint by opening 50 centers across 8 states. Despite the growth, Oak Street faced a net loss of $(414.6) million, compared to $(192.1) million in 2020. Looking ahead, Oak Street plans to open 40 new centers in 2022 and aims for profitability by 2025, maintaining a compounded revenue growth rate of over 40%.
Oak Street Health (NYSE: OSH) has announced its inaugural Investor Day scheduled for March 16, 2022, at 10:30 AM ET in Chicago, Illinois. The event will focus on the company's value-based healthcare model for Medicare patients. A live webcast will be accessible via the Company’s website, with a replay available for 30 days post-event. Founded in 2012, Oak Street Health operates over 125 centers across 20 states, aiming to enhance care quality while assuming financial risks for patients.
Oak Street Health (NYSE: OSH) will hold a conference call on March 1, 2022, at 8:00 AM Eastern Time to discuss its fiscal fourth quarter 2021 financial results. A press release with the results will be issued on February 28, 2022, after market close. The company, founded in 2012, operates over 125 centers across 20 states, focusing on value-based care for Medicare adults. Interested participants can join the call via provided dial-in numbers or through a live webcast on the company’s investor relations site.
BetterInvesting Magazine has designated MasterCard (NYSE: MA) as its "Stock to Study" and Oak Street Health (NYSE: OSH) as the "Undervalued Stock" in the March 2022 issue. These selections aim to educate investors about potential investment opportunities. CEO Ken Zendel encourages Americans to improve their financial literacy as part of their New Year's resolutions. For more insights, BetterInvesting provides online tools to analyze MasterCard and Oak Street Health's fundamental data.
Oak Street Health (NYSE: OSH) has announced a leadership transition effective January 1, 2022. Geoff Price, previously COO, will assume the role of Chief Innovation Officer, while Brian Clem, who has been President since 2019, will take on the COO position. Under Price's guidance, Oak Street Health has grown to over 4,000 employees and serves more than 132,000 Medicare patients across 19 states. This transition aims to enhance the company’s innovative approach to healthcare, ensuring a continued focus on quality over volume in patient care.
Oak Street Health (NYSE: OSH) announces participation in the 40th Annual J.P. Morgan Healthcare Conference with CEO Mike Pykosz and CFO Tim Cook presenting a virtual fireside chat on January 10, 2022 at 2:15 p.m. ET. The event will be accessible via an audio webcast on the Company's website and available for replay for 30 days. Oak Street Health operates over 100 primary care centers focused on value-based care for adults on Medicare, emphasizing quality over quantity and assuming financial risk for patients.
Bamboo Health has expanded its partnership with Oak Street Health (NYSE: OSH) to enhance patient care through the Pings solution, which provides real-time admission, discharge, and transfer (ADT) data. This collaboration aims to streamline care coordination for Medicare patients across Bamboo Health's extensive network of 2,500 hospitals and 7,800 post-acute facilities. By enabling timely interventions and improving patient outcomes, this partnership supports value-based care initiatives and aligns with the Centers for Medicare and Medicaid Services Star Rating Program.
