Chicago-based Oak Street, which primarily serves Medicare seniors, cared for roughly 145,000 risk-based patients in the quarter. The provider’s at-risk membership is a key driver of its financial performance, as its capitated revenue comprises almost its entire net revenue at $537.9 million in the third quarter, up 43% year over year. The impact of the direct contracting headwinds caused Oak Street to experience an almost $6 million revenue reduction in the quarter, Cook said.
