CHICAGO–(COMMERCIAL THREAD) –Oak Street Health, Inc. (NYSE: OSH, or the “Company”), a network of value-driven primary care centers for adults with Medicare, today announced that Acorn Network, LLC, l company-led responsible care organization (ACO), had the fourth highest savings rate of the 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 an average of 4% for participating organizations.
“Oak Street Health is leading the way with a clinical model that delivers superior health outcomes and saves money – critical factors in repairing America’s failing healthcare system and advancing our mission to rebuild health care as it should be, ”said Dr. Griffin Myers, Chief Medical Officer of Oak Street Health. “We are delighted with the savings made by our ACO 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 to achieve 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 stimulate innovation. We look forward to a strong performance in the direct contract program this year.
Since its inception in 2012, Oak Street Health has resulted in an approximately 51% reduction in patient hospitalizations from Medicare benchmarks, a 42% reduction in 30-day readmission rates, and a 51% reduction in emergency room visits, while maintaining a net Promoter Score of 90 for all patients.
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About Oak Street Health
Founded in 2012, Oak Street Health is a network of value-driven primary care centers for adults with Medicare. With a mission to rebuild healthcare as it should, the Company operates an innovative healthcare model focused on the quality of care rather than the volume of services., and assumes all the financial risks of its patients. Oak Street Health currently operates more than 100 centers in 18 states. To learn more about Oak Street Health’s proven approach to care, visit oakstreethealth.com.