Oak Street Health (acquired by CVS Health)

Oak Street Health is a network of primary care practices specializing in care for adults on Medicare. Founded in 2013, the company operates over 125 centers across 25 states as of 2024. Oak Street Health's approach focuses on preventive care and wellness, emphasizing a "well care" rather than "sick care" model. The company utilizes a value-based managed care model, taking on the risk and cost of patients' care, which incentivizes high-quality healthcare by tying patient outcomes to the company's success.

Oak Street Health's integrated care model incorporates behavioral healthcare and social determinants support. Patients can access care through in-center visits, in-home appointments, and telehealth services. The company offers longer appointment times to allow providers to spend more time with patients and develop personalized care plans. Oak Street Health's services include regular checkups, thorough exams, and connecting patients to necessary health services. The company also provides additional support through clinical programs such as mental healthcare, advanced care planning, disease management, and mail-order prescription and over-the-counter delivery services.

In May 2023, CVS Health acquired Oak Street Health for USD 10.6 billion, incorporating it into its newly created healthcare delivery arm. This acquisition expanded CVS Health's primary care footprint and aligned with its push into value-based care and healthcare services. As of June 2023, Oak Street Health reported that its care model had reduced patient hospital admissions by approximately 51% compared to Medicare benchmarks, achieved a 42% reduction in 30-day readmission rates, and a 51% reduction in emergency department visits.

Key customers and partnerships

Oak Street Health primarily serves Medicare and Medicare Advantage patients, accepting a wide range of national and local insurance plans. The company has been selected by AARP for its Doctor Finder for Medicare and Primary Care Physicians program. Oak Street Health also partners with community organizations to provide additional services and support to its patients.