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Oak Street Health Inc's Business Segments
Oak Street Health Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
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Largest Segment
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Total Revenue
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Regions Reported
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Oak Street Health Inc does not report a distinct business-segment axis in its filings - its disaggregated revenue is disclosed by product and service category instead. See the Product & Service breakdown below.
Revenue by Product & Service Category - FY
- Capitated Revenue98.8%
- Service, Other1.2%
- Fee for Service0.5%
- License Subscription and Other Fees0.3%
- Care Coordination and Care Management0.3%
Revenue by Product & Service Category - FY
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Capitated Revenue | $ 743 | 98.8% |
| Service, Other | $ 9 | 1.2% |
| Fee for Service | $ 4 | 0.5% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of Oak Street Health Inc
Oak Street Health Inc is a healthcare company based in the United States that delivers primary healthcare services to seniors. The company was founded in 2012 by Dr. Griffin Myers and Mike Pykosz, with the aim of providing personalized primary care services to patients who have complex medical needs.
The company is headquartered in Chicago, Illinois, and operates in over 30 clinics across multiple states, including Illinois, Indiana, Michigan, Ohio, Pennsylvania, Rhode Island, and Texas. Oak Street Health Inc primarily serves seniors who have Medicare Advantage insurance plans, and it offers a range of services that include preventive care, primary care, chronic disease management, mental health services, and social services.
One of the hallmarks of Oak Street Health Inc's business model is its emphasis on building relationships with patients. Each clinic has a team of healthcare professionals that includes doctors, nurse practitioners, nurses, and social workers who work together to deliver coordinated care to patients. Patients have access to their care team 24/7 through phone and email, and they can also book same-day appointments and receive transportation assistance to and from the clinic.
Another defining feature of Oak Street Health Inc is its focus on the social determinants of health. The company recognizes that health outcomes are influenced by factors such as poverty, transportation, housing, and food security, and it works with community organizations to provide resources and support to patients in these areas. Oak Street Health Inc also offers a range of social events and activities for its patients, such as exercise classes, movie nights, and art classes, to promote social connections and combat social isolation.
In terms of business strategy, Oak Street Health Inc has pursued a rapid expansion model, with plans to open over 100 clinics by 2023. The company has also formed partnerships with several insurance companies, including Humana, Aetna, and United HealthCare, to offer its services to more patients. In 2020, the company went public through an initial public offering (IPO) that raised $328 million.
Overall, Oak Street Health Inc is a healthcare company that is focused on delivering comprehensive, patient-centered care to seniors. With its emphasis on building relationships and addressing the social determinants of health, the company has carved out a unique niche in the healthcare market, and it is poised for continued growth and success in the years to come.
The company is headquartered in Chicago, Illinois, and operates in over 30 clinics across multiple states, including Illinois, Indiana, Michigan, Ohio, Pennsylvania, Rhode Island, and Texas. Oak Street Health Inc primarily serves seniors who have Medicare Advantage insurance plans, and it offers a range of services that include preventive care, primary care, chronic disease management, mental health services, and social services.
One of the hallmarks of Oak Street Health Inc's business model is its emphasis on building relationships with patients. Each clinic has a team of healthcare professionals that includes doctors, nurse practitioners, nurses, and social workers who work together to deliver coordinated care to patients. Patients have access to their care team 24/7 through phone and email, and they can also book same-day appointments and receive transportation assistance to and from the clinic.
Another defining feature of Oak Street Health Inc is its focus on the social determinants of health. The company recognizes that health outcomes are influenced by factors such as poverty, transportation, housing, and food security, and it works with community organizations to provide resources and support to patients in these areas. Oak Street Health Inc also offers a range of social events and activities for its patients, such as exercise classes, movie nights, and art classes, to promote social connections and combat social isolation.
In terms of business strategy, Oak Street Health Inc has pursued a rapid expansion model, with plans to open over 100 clinics by 2023. The company has also formed partnerships with several insurance companies, including Humana, Aetna, and United HealthCare, to offer its services to more patients. In 2020, the company went public through an initial public offering (IPO) that raised $328 million.
Overall, Oak Street Health Inc is a healthcare company that is focused on delivering comprehensive, patient-centered care to seniors. With its emphasis on building relationships and addressing the social determinants of health, the company has carved out a unique niche in the healthcare market, and it is poised for continued growth and success in the years to come.
Oak Street Health Inc. is a prominent healthcare organization dedicated to providing primary care services specifically tailored for Medicare beneficiaries, particularly in underserved urban areas. The company adopts a value-based care model, emphasizing comprehensive and coordinated care, highlighting preventative health measures to enhance overall well-being among its patient population.
Segments
Target Demographic:
Oak Street Health primarily focuses on older adults aged 65 and older who are enrolled in Medicare. This demographic is especially vulnerable due to age-related health challenges and often faces barriers accessing quality healthcare. The companys services are strategically located in urban areas where there is a high density of Medicare beneficiaries, alongside a notable scarcity of primary care providers.
Underserved Communities:
A significant focus is placed on reaching seniors from diverse backgrounds, particularly low-income populations and ethnic minorities. Oak Street Health acknowledges the cultural and linguistic diversity of its clientele, ensuring that care is tailored to meet the unique needs of non-English speaking seniors.
Products
Oak Street Health offers an extensive array of primary care services designed specifically to meet the complex healthcare needs of its patient demographic:
1. Primary Care Services:
Oak Street Health provides comprehensive primary care, encompassing preventive care, acute care, and chronic illness management. The focus is on treating multiple chronic conditions by implementing personalized care plans that facilitate ongoing patient engagement.
2. Care Coordination:
Recognizing the complexities of navigating healthcare systems, Oak Street Health offers robust care coordination. This includes assistance with referrals to specialty care providers, follow-up care after hospitalizations, and help with managing chronic diseases. The aim is to provide seamless transitions between different levels of care.
3. Telemedicine:
To augment accessibility, Oak Street Health provides telemedicine services, encompassing both telephone and video consultations. This is particularly beneficial for patients with mobility or transportation challenges, ensuring continual access to necessary care.
4. Social Services:
Oak Street Health addresses the social determinants of health through the provision of social services, including behavioral health counseling and community resource navigation. This holistic approach ensures the overall well-being of patients beyond just physical health.
Services
In addition to the products, Oak Street Health emphasizes delivering a dignified and personalized healthcare experience through its diverse range of services:
1. In-Person Care:
Patients receive in-person care in modern, accessible facilities designed to foster a welcoming atmosphere. The clinics are staffed by compassionate healthcare professionals committed to individualized patient care.
2. Health and Wellness Programs:
These programs are integrated into the clinic offerings to assist patients in managing chronic diseases, promoting weight loss, and maintaining overall health. Educational workshops and support groups are often part of the programming to foster community engagement and accountability.
3. Affordable Healthcare:
Oak Street Health is committed to making healthcare affordable. Many services are offered with little or no out-of-pocket costs for Medicare beneficiaries, making it easier for patients to seek necessary care without financial stress. The acceptance of Medicare and certain insurance plans furthers this commitment.
4. Patient Support Services:
These services assist patients in navigating the healthcare system. They include scheduling appointments, arranging transportation to medical visits, and providing medication management support, ensuring that patients follow through on care plans effectively.
5. Translation Services:
To support its diverse patient base, Oak Street Health provides translation services. This ensures that non-English speaking patients can fully understand their treatment options and care plans, promoting better health outcomes through improved communication.
In conclusion, Oak Street Health Inc. is dedicated to meeting the healthcare needs of Medicare beneficiaries, particularly in urban areas where access to care is limited. By offering a comprehensive range of primary care services, care coordination, telemedicine, social services, and a strong commitment to patient-centered care, the organization aims to improve the health and overall well-being of its patient population, focusing on preventative care and supportive services that address both medical and social health determinants.
Segments
Target Demographic:
Oak Street Health primarily focuses on older adults aged 65 and older who are enrolled in Medicare. This demographic is especially vulnerable due to age-related health challenges and often faces barriers accessing quality healthcare. The companys services are strategically located in urban areas where there is a high density of Medicare beneficiaries, alongside a notable scarcity of primary care providers.
Underserved Communities:
A significant focus is placed on reaching seniors from diverse backgrounds, particularly low-income populations and ethnic minorities. Oak Street Health acknowledges the cultural and linguistic diversity of its clientele, ensuring that care is tailored to meet the unique needs of non-English speaking seniors.
Products
Oak Street Health offers an extensive array of primary care services designed specifically to meet the complex healthcare needs of its patient demographic:
1. Primary Care Services:
Oak Street Health provides comprehensive primary care, encompassing preventive care, acute care, and chronic illness management. The focus is on treating multiple chronic conditions by implementing personalized care plans that facilitate ongoing patient engagement.
2. Care Coordination:
Recognizing the complexities of navigating healthcare systems, Oak Street Health offers robust care coordination. This includes assistance with referrals to specialty care providers, follow-up care after hospitalizations, and help with managing chronic diseases. The aim is to provide seamless transitions between different levels of care.
3. Telemedicine:
To augment accessibility, Oak Street Health provides telemedicine services, encompassing both telephone and video consultations. This is particularly beneficial for patients with mobility or transportation challenges, ensuring continual access to necessary care.
4. Social Services:
Oak Street Health addresses the social determinants of health through the provision of social services, including behavioral health counseling and community resource navigation. This holistic approach ensures the overall well-being of patients beyond just physical health.
Services
In addition to the products, Oak Street Health emphasizes delivering a dignified and personalized healthcare experience through its diverse range of services:
1. In-Person Care:
Patients receive in-person care in modern, accessible facilities designed to foster a welcoming atmosphere. The clinics are staffed by compassionate healthcare professionals committed to individualized patient care.
2. Health and Wellness Programs:
These programs are integrated into the clinic offerings to assist patients in managing chronic diseases, promoting weight loss, and maintaining overall health. Educational workshops and support groups are often part of the programming to foster community engagement and accountability.
3. Affordable Healthcare:
Oak Street Health is committed to making healthcare affordable. Many services are offered with little or no out-of-pocket costs for Medicare beneficiaries, making it easier for patients to seek necessary care without financial stress. The acceptance of Medicare and certain insurance plans furthers this commitment.
4. Patient Support Services:
These services assist patients in navigating the healthcare system. They include scheduling appointments, arranging transportation to medical visits, and providing medication management support, ensuring that patients follow through on care plans effectively.
5. Translation Services:
To support its diverse patient base, Oak Street Health provides translation services. This ensures that non-English speaking patients can fully understand their treatment options and care plans, promoting better health outcomes through improved communication.
In conclusion, Oak Street Health Inc. is dedicated to meeting the healthcare needs of Medicare beneficiaries, particularly in urban areas where access to care is limited. By offering a comprehensive range of primary care services, care coordination, telemedicine, social services, and a strong commitment to patient-centered care, the organization aims to improve the health and overall well-being of its patient population, focusing on preventative care and supportive services that address both medical and social health determinants.