Oak Street Health is a value-based direct primary care provider for Medicare-eligible patients aged 65 years and above, with a focus on underserved communities. Oak Street generates the majority of its revenue (over 95%) through capitations, which is a fixed payment per patient per month, paid in advance by Medicare. Oak Street is therefore liable for medical costs in excess of the fixed payment and is able to retain any surplus created if costs are lower. The company opened its 100th center in August 2021, operated 110 clinics across the US. Oak Street Health plans to open an additional 129 centers for the full year. The company also experienced a steady increase in at-risk patients, which stood at 100,500 in September 2021.

Despite reporting a strong topline growth in 2020 (up 59% YoY to USD 883 million), it continues to report net losses (up 77% YoY to USD 183.5 million) as a result of the growth in the number of centers and an increase in additional staff. For 9M 2021, the company recorded a 64% YoY increase in revenue to USD 1 billion, while nearly tripling its operating losses to USD 272.5 million. Consequently, it estimates a midpoint revenue of USD 1.41 billion for the full year, implying a growth rate of 60% YoY. Adjusted EBITDA loss, however, is expected to increase to a range of USD 230–235 million amid rising medical costs. Beyond 2021, the company expects to receive an increase in per-patient revenue due to the higher disease burden of its at-risk patients. 

Oak Street Health commenced trading on the New York Stock Exchange in August 2020, under the ticker symbol "OSH", raising USD 328 million from the initial public offering. In October 2021, the company acquired the Rubicon eConsult platform to expand into virtual specialty care at a deal price of USD 130 million. It plans to integrate Rubicon’s eConsults platform to provide real-time specialist video visits that will be available in-person at Oak Street Centres, leveraging RubiconMD’s technology and network of 230 healthcare providers. Oak Street expects the acquisition to triple eConsults growth and reduce specialist medical costs by 10% by 2023.