Oak Street Health
Oak Street Health is a US value-based primary care provider operating over 200 clinics across 25+ states, exclusively serving Medicare-eligible older adults under capitated contracts with Medicare and major Medicare Advantage plans. It is a wholly-owned CVS Health subsidiary following the May 2023 acquisition for approximately $10.6 billion.
- Company typePrivate
- Founded2012
- HeadquartersChicago, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Oak Street Health does
Oak Street Health is a US primary care provider founded in 2012 and headquartered in Chicago, focused exclusively on Medicare-eligible adults aged 65 and older, including Original Medicare Part B, Medicare Advantage, Medicare Supplement/Medigap, and Medicare-Medicaid Plan patients. The company operates a network of more than 200 primary care clinic locations across 25+ states, supported by dedicated care teams that coordinate primary care, specialty referrals, chronic condition management, behavioral health, podiatry, pharmacy, laboratory testing, and immunizations under one roof. Its product portfolio centers on a core Primary Care service augmented by wellness and preventive care, chronic condition management, behavioral health, laboratory testing, podiatry, pharmacy services, and specialty care referrals, with the RubiconMD eConsult platform providing virtual specialty access acquired in October 2021.
Oak Street Health's technology stack is integrated with the broader CVS Health ecosystem following the May 2023 acquisition for approximately $10.6 billion, including the CVS Health app for patient portal access, MyChart for medical records management, telehealth capabilities, and online scheduling with same/next-day appointment availability. The company also operates a 24/7 patient support line and a multi-language provider directory, with a distinctive AARP "trusted primary care provider" endorsement as its primary intangible brand asset. Patients access services through direct channels — website, phone, walk-in — supported by a multi-channel marketing approach including community events, AARP referrals, and insurance partnerships.
Oak Street Health operates under a value-based care reimbursement model, receiving capitation payments from Medicare and Medicare Advantage plans for attributed patients, with revenue also generated from coordinating specialty care, laboratory testing, pharmacy, and ancillary services. Patient out-of-pocket costs are covered by existing Medicare insurance rather than charged directly by Oak Street. Distribution is integrated with CVS Health's retail pharmacy network and insurance contracts with major Medicare Advantage insurers including Aetna, Humana, UnitedHealthcare, Anthem, Molina, and WellCare. The company was taken private by CVS Health in May 2023 and now operates as a wholly-owned subsidiary, though CVS Health has subsequently recorded a $5.7 billion goodwill impairment charge and announced the closure of 16 underperforming Oak Street Health clinics in 2026.
Oak Street Health firmographics
Firmographics- Name
- Oak Street Health
- Legal name
- Oak Street Health
- Website
- https://oakstreethealth.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Oak Street Health is a US value-based primary care provider operating over 200 clinics across 25+ states, exclusively serving Medicare-eligible older adults under capitated contracts with Medicare and major Medicare Advantage plans. It is a wholly-owned CVS Health subsidiary following the May 2023 acquisition for approximately $10.6 billion.
- Ownership category
- akta.pro rank
Oak Street Health industry classification
Industry- Product category
- Senior Primary Care Services
- NAICS
- Offices of Physicians (6211)
- SIC
- Services-Offices & Clinics Of Doctors Of Medicine (8011)
- akta.pro primary industry
- Value-Based Primary Care Organizations (Risk-Bearing) (HLAFAGAF)
- akta.pro secondary industry
- Integrated Primary Care in Behavioral Health Settings (HLAFAGAM)
Keywords
Where Oak Street Health is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices19 records
Markets served
Oak Street Health business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Value-Based Care Reimbursement: Oak Street Health operates under a value-based care model, receiving capitation payments from Medicare and Medicare Advantage plans for providing comprehensive primary care services to attributed patients. The company focuses on keeping patients healthy and managing chronic conditions to reduce overall healthcare costs.
- Specialty Care Referrals and Ancillary Services: Revenue generated from coordinating specialty care services, laboratory testing, pharmacy services, and other ancillary healthcare services delivered within the care model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Insurance-based primary care at no direct patient cost |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Oak Street Health product offering
Product offeringCore offering
Oak Street Health operates a network of primary care clinics that deliver value-based primary and specialty care to Medicare-eligible adults. Services include core primary care, wellness and preventive care, chronic condition management, behavioral health, podiatry, pharmacy services, immunizations, laboratory testing, and specialty care referrals, coordinated through dedicated care teams at over 100 clinic locations across 25+ U.S. states.
Product overview
Oak Street Health is a primary care platform for Medicare-eligible adults, built around a core Primary Care service supplemented by integrated specialty modules. The platform offers Wellness & Preventive Care, Chronic Condition Care, Immunizations, Laboratory & Testing Services, Behavioral Health, Podiatry, Pharmacy Services, and Specialty Care Referrals—all coordinated through dedicated care teams. Patients access services through a network of over 100 clinic locations nationwide, via telehealth, and through digital integrations with the CVS Health App and MyChart.
Differentiator
Problem solved
Functional benefit
Products and services
- Primary Care
Quantifiable outcome
- Rated 5 out of 5 stars by patients
- +1 more outcomes
Companies that use Oak Street Health
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Oak Street Health technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
Oak Street Health partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- CVS HealthcoreCVS Health acquired Oak Street Health for approximately $10.6 billion in May 2023. This acquisition integrated Oak Street Health's network of primary care clinics for Medicare patients into CVS Health's broader healthcare delivery strategy. As part of CVS Health, Oak Street Health benefits from integration with CVS pharmacy services, the CVS Health app, and cross-referrals from MinuteClinic locations. CVS Health is leveraging Oak Street Health assets in its AI-driven care coordination strategy alongside Signify Health.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Oak Street Health competitors and assessment
Company assessmentDirect peers
- agilon health: Publicly-traded value-based primary care platform partnering with PCP groups to take MA risk for senior populations. Operates a similar capitation model with senior-focused primary care physicians across multiple states.
- VillageMD: Primary care platform majority-owned by Walgreens Boots Alliance, operating value-based clinics including senior-focused locations. Directly competes with Oak Street Health in risk-bearing primary care delivery.
- Cano Health: Value-based primary care provider for seniors operating clinics across multiple states under MA capitation contracts. Competes directly with Oak Street Health in the senior-focused primary care market.
- One Medical: Membership-based primary care platform acquired by Amazon, offering integrated primary care with technology-enabled patient experience. Overlaps with Oak Street Health in value-based care philosophy and PCP-led care teams, though its member base is broader than seniors-only.
- ChenMed: Privately-held value-based primary care provider for low-to-moderate-income seniors, operating under full-risk capitation contracts with MA plans. Closely comparable to Oak Street Health's senior-focused, risk-bearing primary care model.
- Humana CenterWell: Humana's primary care subsidiary operating senior-focused, value-based primary care clinics for Medicare Advantage patients. Directly competes with Oak Street Health in the same risk-bearing PCP model for the same demographic.
Broad incumbents
- UnitedHealth Group (Optum Care): Optum operates risk-bearing primary care clinics serving MA members as part of UnitedHealth's vertically integrated payer-provider model. Competes broadly with Oak Street Health in senior value-based primary care at greater scale.
- Walgreens Boots Alliance: Parent company of VillageMD, pursuing a healthcare delivery strategy analogous to CVS Health's Oak Street integration. A broad incumbent operating in the same value-based primary care space as part of a larger retail pharmacy portfolio.
- Amazon Health: Parent of One Medical, building an omnichannel care delivery platform combining pharmacy, primary care, and consumer technology. A broad incumbent with strategic ambitions overlapping Oak Street Health's care delivery model.
Emerging players
- Privia Health: Physician practice platform enabling value-based care arrangements across multiple payer types. Provides adjacent enabling infrastructure and has growing senior-focused MA exposure through partner practices.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Oak Street Health social profiles
Digital presenceOak Street Health financial estimates
Financial estimateRevenue estimate
Valuation estimate
Oak Street Health leadership team
Management profileNumber of profiles
Profiles10 records
Oak Street Health subsidiaries and ownership
Company hierarchySubsidiaries1 record
Oak Street Health funding detail
Funding detailFunding overview
Funding rounds5 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Oak Street Health M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Oak Street Health
What does Oak Street Health do?
Oak Street Health operates a network of primary care clinics that deliver value-based primary and specialty care to Medicare-eligible adults. Services include core primary care, wellness and preventive care, chronic condition management, behavioral health, podiatry, pharmacy services, immunizations, laboratory testing, and specialty care referrals, coordinated through dedicated care teams at over 100 clinic locations across 25+ U.S. states.
Is Oak Street Health a public or private company?
Oak Street Health is a private company. It is classified as corporate owned and is currently operating.
When was Oak Street Health founded?
Oak Street Health was founded in 2012. It employs 101 to 250 people.
Where is Oak Street Health based?
Oak Street Health is headquartered in Chicago, United States, in the North America region.
How does Oak Street Health make money?
Two revenue lines are on record. Value-Based Care Reimbursement is the primary driver. The others are specialty Care Referrals and Ancillary Services.
Who are Oak Street Health's main competitors?
Direct peers on record are agilon health, VillageMD, Cano Health, One Medical, ChenMed and Humana CenterWell. Broad incumbents are UnitedHealth Group (Optum Care), Walgreens Boots Alliance and Amazon Health. Privia Health is listed as an emerging player.
Does Oak Street Health have an API?
No public API is recorded for Oak Street Health.
What industry is Oak Street Health in?
Oak Street Health's product category is Senior Primary Care Services. Its primary akta.pro industry code is HLAFAGAF, Value-Based Primary Care Organizations (Risk-Bearing), with a secondary code of HLAFAGAM, Integrated Primary Care in Behavioral Health Settings. Its NAICS code is 6211 and its SIC code is 8011.