- October 27, 2020
- Posted by: Stratford Team
- Category: Markets
?Oak Street Health (NYSE: OSH), a network of value-based primary care centers for adults on Medicare, is continuing its nationwide expansion and marking its 70th clinic with the recent opening of the Company’s first center in New York and the first of three planned Community Clinics at Walmart supercenters in the Dallas-Fort Worth area.
“We founded Oak Street Health with a mission to rebuild healthcare as it should be and we are delivering on that mission by bringing our innovative, proven model of high-quality primary care to neighborhoods across the entire country,” said Mike Pykosz, CEO of Oak Street Health. “We are thrilled to open our first New York location, marking our 10th state and milestone 70th center, but we are just getting started. Our team is energized by the opportunity to improve more lives, and we are proud to be a positive addition to new communities.”
The new openings follow the Company’s rapid growth this summer, opening a dozen new centers between August 3 and September 16, including its first centers in Tennessee and Texas. Oak Street Health plans to add additional centers and operate clinics across 11 states by the end of 2020, including its first Mississippi center. With the capital raised in its recent IPO, the Company is accelerating its expansion plans.
The Brooklyn center is located at 455 Sutter Avenue and Oak Street Health is planning for additional growth in New York. The first Walmart Community Clinic is located in the supercenter at 1213 E. Trinity Mills Road in Carrollton, Texas. Oak Street Health will open two additional Walmart Community Clinics in Arlington and Benbrook, Texas, by the end of 2020.
“We care for the most vulnerable patients, the majority having two or more chronic conditions, who live in neighborhoods that lack access to quality primary care,” said Dr. Griffin Myers, Chief Medical Officer of Oak Street Health. “As we continue to face the challenges of the COVID-19 pandemic, high quality primary care for these older adults is more important than ever. Whether through our growing base of Oak Street Health centers or through our collaboration with Walmart, we will continue to care for our patients and we look forward to bringing our healthcare model to even more states and cities in the near future.”
Since its founding in 2012, Oak Street Health has driven an approximately 51 percent reduction in patient hospital admissions compared to Medicare benchmarks, 42 percent reduction in 30-day readmission rates and a 51 percent 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 65 centers across Illinois, Michigan, Ohio, Pennsylvania, Texas, Indiana, North Carolina, Rhode Island, Tennessee and New York. To learn more about Oak Street Health’s proven approach to care, visit oakstreethealth.com