Oak Street Health Releases Inaugural Social Impact Report
Oak Street Health (NYSE: OSH) released its inaugural Social Impact Report, showcasing how its value-based care model has positively impacted over 150,000 patients and the healthcare system. Key findings include a 51% reduction in hospital admissions and a 42% decrease in 30-day readmission rates. Additionally, the report highlights that 87% of patients completed annual wellness visits, and the company achieved high performance in Medicare quality metrics. Oak Street Health continues to expand its clinics, creating jobs and investing in local communities.
- 51% reduction in hospital admissions and 42% decrease in 30-day readmission rates for patients.
- 87% of patients completed annual wellness visits, triple the Medicare average.
- Achieved 5 Stars in Medicare quality metrics through diabetes and cancer screening programs.
- Integrated behavioral health approach resulted in significant reductions in depression scores.
- Provided over 12,000 in-home appointments during the pandemic, administering 200,000 COVID-19 vaccine doses.
- None.
Report Details How Company’s Value-Based, Preventive Care Positively Impacts Patients, Communities and the Healthcare Industry
“I’m so proud of what our team has accomplished for our patients and communities across the country through our value-based care model,” said
Key findings from the Social Impact Report include:
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Delivering measurably better outcomes: Oak Street Health’s value-based model of care delivers measurably better health outcomes for patients, reducing patient hospital admissions and emergency department visits by
51% and reducing 30-day readmission rates for patients by42% , compared to Medicare benchmarks.
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Prioritizing preventive care: More than
87% ofOak Street Health patients completed an annual wellness visit, which is more than triple the average annual wellness visit completion rate for Medicare enrollees.Oak Street Health is focused on comprehensive prevention, disease management and wellness support to increase health equity and deliver better outcomes. In addition, patients atOak Street Health see their provider an average of eight times per year, compared to the average of 2.5 to 3 times per year for older adults across the country.
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Sustaining clinical programs that beat industry benchmarks: As demonstrated by nationally benchmarked Healthcare Effectiveness Data and Information Set (HEDIS) metrics,
Oak Street Health has achieved 5 Stars level performance in Medicare quality through its Diabetes Disease Management Program, ensuring85% of diabetic patients had well-controlled diabetes (+6% above industry benchmark), Quality Program driving87% of patients to complete a screening for breast cancer (+12% above industry benchmark) and Screenings + Vaccination Program resulting in88% of patients completing a screening for colorectal cancer (+14% above industry benchmark).
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Integrating behavioral health to treat the whole person: Oak Street Health’s integrated approach to primary care prioritizes behavioral health to care for a person’s physical and mental wellbeing. As a result, patients experienced an average reduction of 5.3 points in Patient Health Questionnaire-9 (PHQ9) depression test scores after 6 weeks of treatment, and
43% of enrolled patients sustained a reduction of50% or greater after 6 months of treatment.
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Helping patients weather the pandemic: To provide the same level of care during the COVID-19 crisis,
Oak Street Health provided 12,096 in-home appointments in 2021 and treated 7,000 patients through its COVID Care program. Additionally,Oak Street Health administered 200,000 COVID-19 vaccine doses and transitioned93% of 2,200 daily patient visits to telehealth appointments during the beginning of the pandemic to continue to support patients.
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Enriching communities and building trust: With each new center,
Oak Street Health invests more than into the local community and adds between 35 to 50 jobs for people who live in neighborhoods around the centers, providing stable jobs in underserved communities. Due to the diversity of its workforce,$2 million Oak Street Health providers bring culturally-competent care to their patients and create deeper trust between patients and care teams. In 2021, the Company created 1,200 jobs and invested nearly of care center investment in urban and suburban communities across the country.$350M
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Leading the way for the healthcare industry: In 2020, Oak Street Health’s
Accountable Care Organization (ACO), Acorn Network, generated the fourth-highest savings rate of all 513 ACOs at16.86% — more than four times the4% average of participating organizations. This resulted in about in annual taxpayer savings vs. CMS targets for our approximately 5,000 patients served.$1,200
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Media Contact:
Vice President of Public Relations
Erica.Frank@oakstreethealth.com
Investors Contact:
Head of Investor Relations
Sarah.Cluck@oakstreethealth.com
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