CHICAGO--(BUSINESS WIRE)--Oak Street Health, a network of primary care centers providing a new model of value-based primary care to Medicare patients, announces expansion into Philadelphia, with plans to open Oak Street Health centers across the city and surrounding areas. This marks the company’s first development on the East Coast, demonstrating its ability to scale nationally.
The new centers in Philadelphia will provide needed healthcare services where there has been little to no access to quality primary care. Oak Street Health treats people with Medicare at no additional cost to the patient and has shown significantly improved outcomes. In just four years Oak Street has grown to 24 centers and plans to make the same impact on the East Coast and nationally.
“We provide care for adults on Medicare in a way that substantially and measurably improves outcomes, lowers costs, and provides an unmatched experience,” explained Mike Pykosz, Oak Street Health’s co-founder and CEO. “We saw a distinct need in Philadelphia for this type of care, and the fact that we are also continuing to quickly expand in the Midwest shows the positive reception we have had from Medicare patients in the communities we serve. Our new and better model of healthcare works – and we are excited to scale nationally to meet the demonstrated need.”
Oak Street Health is an entirely different model of healthcare that is rooted in value for patients, not on volume of services. By changing the way primary care is delivered among the country’s costliest patients, Oak Street has been able to keep patients healthier and reduce hospital admissions by 40 percent.
“Oak Street Health has challenged the healthcare system status quo and is rebuilding healthcare as it should be in communities that don’t expect it,” explained Dr. Tom Lee, co-author of the recent Harvard Business School case study featuring Oak Street Health and professor of medicine part time at Harvard Medical School. “With these openings and more to come, Oak Street is demonstrating that community-based healthcare can be viable and is able to remove the barriers to great healthcare for adults on Medicare throughout our country.”
By taking full risk for their patients’ care and outcomes, Oak Street Health provides higher quality health and wellness care (five-star care according to national standards), manages medical costs (reduces costly hospitalizations by more than 40%) and provides an unmatched experience (a net promoter score of 92% versus 3% among Medicare patients for primary care). Its care teams are more comprehensive than a traditional doctor’s office, and it invests more time and resources on prevention and attention to help patients live healthier, happier lives.
Its move to Philadelphia is the first outside the Midwest, with more on the East Coast and other parts of the country to come. As Pykosz explains, “In all markets we enter, not only will we serve tens of thousands of patients at our centers – but we also create jobs. We anticipate offering hundreds of new jobs over the next two-three years in Philadelphia like we have done in our other markets.”
About Oak Street Health
Oak Street Health is a rapidly growing, innovative company of community-based healthcare centers that provides higher quality health and wellness care that improves outcomes, manages medical costs, and provides an unmatched experience for adults on Medicare in medically underserved communities. By providing holistic, comprehensive, and integrated care right in our patients’ communities, we can keep our patients healthy and then reinvest cost savings in further care for those same communities and others. Since 2013, Oak Street Health has brought its singular approach to tens of thousands of people in Illinois, Indiana, and Michigan currently with 24 locations.
To learn more about Oak Street Health, visit www.oakstreethealth.com.
