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Oak Street Health’s Accountable Care Organization Delivered 4th Highest Savings Rate out of 513 Organizations In 2020

10/01/2021

CHICAGO--(BUSINESS WIRE)-- Oak Street Health, Inc. (NYSE: OSH, or the “Company”), a network of value-based primary care centers for adults on Medicare, today announced that Acorn Network, LLC, the Company-led accountable care organization (ACO), had the fourth highest savings rate of all 513 ACOs that participated in the Medicare Shared Savings Program (MSSP) in 2020, based on data from the Centers for Medicare and Medicaid Services (CMS). Acorn’s savings rate was 16.86% compared to 4% on average for the participating organizations.

“Oak Street Health is leading the way forward with a clinical model that delivers superior health outcomes and saves money - critical factors to fix America’s broken healthcare system and advance our mission of rebuilding healthcare as it should be,” said Dr. Griffin Myers, Chief Medical Officer of Oak Street Health. “We are pleased by the savings our ACO delivered in 2020, despite the challenges of a global pandemic. We look forward to continuing to improve access to high-quality primary care for our patients, and deliver significant cost savings.”

The Company is now one of 53 organizations participating in the CMS Direct Contracting program, which began in April 2021. Myers continued, “Oak Street Health appreciates CMS’ leadership in value-based care programs and we are proud to work together to drive innovation. We look forward to a strong performance in the Direct Contracting program this year.”

Since its founding in 2012, Oak Street Health has driven an approximately 51% reduction in patient hospital admissions compared to Medicare benchmarks, a 42% reduction in 30-day readmission rates and a 51% reduction in emergency department visits, all while maintaining a Net Promoter Score of 90 across patients.

To learn more about Oak Street Health’s value-based primary care model, click here.

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 100 centers across 18 states. To learn more about Oak Street Health’s proven approach to care, visit oakstreethealth.com.

Media Contact:
Erica Frank
Vice President of Public Relations
Erica.Frank@oakstreethealth.com

Investors Contact:
Sarah Cluck
Head of Investor Relations
Sarah.Cluck@oakstreethealth.com

Source: Oak Street Health

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