Oak Street Health

Oak Street Health, founded in 2012 by Mike Pykosz, Griffin Myers, and Geoff Price, is a network of primary care centers dedicated to providing comprehensive healthcare services to older adults on Medicare. Headquartered in Chicago, Illinois, the organization has rapidly expanded its footprint across the United States, operating over 170 centers nationwide as of 2024.

Mission and Vision

The core mission of Oak Street Health is to "rebuild healthcare as it should be." This mission emphasizes a patient-centered approach that prioritizes quality care over the volume of services provided. By focusing on preventive care, personalized wellness plans, and integrated health services, Oak Street Health aims to improve health outcomes, reduce medical costs, and enhance the overall patient experience.

Value-Based Care Model

Unlike traditional fee-for-service healthcare models, Oak Street Health operates on a value-based care model. This approach holds the organization accountable for patients' health by assuming the full financial risk of their care. By concentrating on preventive measures and chronic condition management, the model seeks to keep patients healthier and more active, thereby reducing hospital admissions and emergency room visits.

Services Offered

Oak Street Health provides a comprehensive range of services tailored to the unique needs of older adults, including:

• Primary Care: Personalized care plans developed by dedicated primary care physicians and care teams.
• Chronic Condition Care: Specialized programs for managing chronic illnesses such as diabetes, hypertension, and heart disease.
• Immunizations: Routine vaccinations to protect against common illnesses.
• Wellness and Preventive Care: Health education, screenings, and lifestyle support to promote overall well-being.

Community Engagement and Expansion

Demonstrating a strong commitment to serving underserved neighborhoods, Oak Street Health strategically establishes centers in areas where healthcart needed. In August 2021, the organization celebrated the opening of its 100th center, marking a significant milestone in its expansion efforts. To commemorate this achievement, Oak Street Health partnered with the Chicago Region Trees Initiative to plant 100 trees in various neighborhoods across Illinois, symbolizing its dedication to enriching the communities it serves.

Partnership with CVS Health

In May 2023, Oak Street Health was acquired by CVS Health for $10.6 billion. This strategic partnership aims to enhance the delivery of value-based primary care to Medicare beneficiaries, leveraging CVS Health's extensive resources and infrastructure to further Oak Street Health's mission.

Recognition and Achievements

Oak Street Health has been recognized for its innovative approach to healthcare delivery. Notably, it is the only primary care provider selected by AARP, underscoring its commitment to serving the older adult population with excellence.

Commitment to Equity and Accessibility

Firm in the belief that quality healthcare should be accessible to everyone, regardless of income or background, Oak Street Health invests in communities by building centers in traditionally underserved neighborhoods. This commitment to equitable care ensures that more individuals have access to the services they need to maintain their health and well-being.

Patient-Centered Approach

At the heart of Oak Street Health's operations is a personalized approach to patient care. The organization takes the time to understand each patient's unique health needs, tailoring care plans accordingly. This individualized attention fosters strong patient-provider relationships and contributes to improved health outcomes.

Future Outlook

With a solid foundation and a clear mission, Oak Street Health continues to expand its reach and impact. The partnership with CVS Health positions the organization to further innovate and enhance its value-based care model, potentially setting new standards in primary care for older adults across the nation.

In summary, Oak Street Health represents a transformative force in the healthcare industry, dedicated to providing high-quality, accessible, and personalized care to older adults. Through its value-based care model, community engagement, and strategic partnerships, the organization is well-positioned to continue making significant strides in improving healthcare outcomes for Medicare beneficiaries nationwide.