Oak Street Health Publishes First ESG Report

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Oak Street Health, a network of value-based primary care centres for adults on Medicare and the only primary care provider to bear the AARP name, has released its first environmental, social, and governance (ESG) report, detailing its ESG priorities and achievements to date.

"Oak Street Health is a mission-driven organisation built on ESG principles," said CEO and co-founder Mike Pykosz. "Its main goal is to solve inequities in access to and quality of health care based on a person's income or background. We are pleased to share our ESG strategy and inaugural report, and we look forward to continuing to rebuild healthcare as it should be, improving health outcomes for our patients, and improving health equity across the country.”

The detailed report looks at the important environmental, social, and governance (ESG) issues for Oak Street Health and defines five focus pillars. It also shows what has been done recently and what programmes are already in place to help with these priorities. Oak Street Health is looking forward to sharing future updates as it continues to build a primary care platform to address the rising costs and poor results of healthcare in the US.

The highlights of the ESG report include the following:

  • Increasing health equity: The company kept its promise to give the underserved high-quality care. In 2021, 42% of patients were eligible for both Medicare and Medicaid, and more than 50% of patients were African-American, Latino, or Indigenous.

  • Investing in communities: in 2021, the company invested over $350 million in its communities and created over 1,600 new jobs across 19 states between opening new centres and developing the existing centre base.

  • Building a great place to work: in 2022, the company released its inaugural DE&I report, which included demographic data on Oak Street employees and managers, highlighting that over 70% of its workforce identifies as a minority, versus only 27% in the US healthcare system.

  • Protecting stakeholders: its board took on ESG oversight in 2022 as the company further articulated its ESG priorities and risk oversight structure.

  • Providing sustainable care: The company continued its investment in sustainability, with all new centres constructed in 2021 and 2022. California Title 24 is compliant with water and electricity efficiency.

For more social and governance news

Source: Business Wire

Click here to read Oak Street health’s first ESG report and learn more about its ongoing ESG works.

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