Innovations in Digital Health: Strive Health and Oak Street Health Revolutionize Patient Care

Ben H.

Ben H.

Jul 18, 20234 min read

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Innovations in Digital Health: Strive Health and Oak Street Health Revolutionize Patient Care

Introduction:

The healthcare industry is constantly evolving, with digital health companies leading the charge in transforming patient care. In recent news, Strive Health and Oak Street Health have made significant strides in revolutionizing the way we approach chronic and end-stage kidney disease and primary care, respectively. These companies have attracted substantial funding and are leveraging cutting-edge technology to provide personalized and culturally competent care to patients. Let's delve deeper into their endeavors and explore the potential impact they can have on the healthcare landscape.

Strive Health: Pioneering Kidney Care

Strive Health, a Denver-based digital health company, recently closed a remarkable $166 million Series C funding round. Led by New Enterprise Associates and featuring CVS Health Ventures, this funding brings Strive's total venture funding to an impressive $386 million since its inception in 2018. The company's core focus lies in helping patients navigate the complex care process of chronic and end-stage kidney disease.

Leveraging machine learning-enabled technology, Strive's platform assimilates patient, medication, and claims data to create individualized care plans. By utilizing this data-driven approach, Strive aims to optimize patient outcomes and improve their overall quality of life. Furthermore, the company plans to utilize the funds to forge partnerships with health systems, at-risk medical groups, and health plans, while further refining its care model.

Oak Street Health: Revolutionizing Primary Care

Oak Street Health, a Chicago-based primary care provider, caught the attention of CVS Health when it finalized a remarkable $10.6 billion acquisition deal. This strategic partnership enables Oak Street to tap into CVS Health's extensive resources, including its retail footprint, pharmacies, and Aetna health plan business. By harnessing these resources, Oak Street intends to expand its patient base, enhance care coordination, and explore novel channels to deliver comprehensive care.

In addition, CVS Health's acquisition of Signify, the largest home-based health risk assessment company, presents a unique opportunity for Oak Street. With a substantial portion of Signify's assessed individuals requiring ongoing care for chronic illnesses, Oak Street envisions becoming the primary provider for these patients. By hiring individuals from the communities they serve, Oak Street aims to provide culturally competent medicine, fostering better patient outcomes.

Commonalities and Synergies:

Despite their different areas of focus, Strive Health and Oak Street Health share several commonalities in their approach to patient care. Both companies recognize the importance of data-driven insights and technological innovation in transforming healthcare delivery. By harnessing the power of machine learning and analytics, Strive Health and Oak Street Health can tailor care plans and interventions specific to each patient's needs.

Furthermore, both companies prioritize partnerships and collaborations to enhance their care models. Strive Health aims to work closely with health systems, medical groups, and health plans to amplify its impact and reach more patients. Meanwhile, Oak Street Health leverages its alliance with CVS Health to access a vast network of resources and create synergies that enable comprehensive and coordinated care.

Key Takeaways and Actionable Advice:

  • 1. Embrace Data-Driven Solutions: As the healthcare landscape becomes increasingly complex, leveraging data and advanced technologies can significantly improve patient outcomes. By investing in machine learning and analytics, healthcare providers can gain valuable insights into patient populations, optimize care plans, and personalize interventions accordingly.
  • 2. Foster Partnerships and Collaborations: The power of collaboration cannot be understated in healthcare. By forging strategic partnerships with health systems, medical groups, and health plans, digital health companies can expand their reach, tap into additional resources, and foster a more integrated approach to care delivery.
  • 3. Prioritize Cultural Competence: Recognizing the influence of cultural factors on health outcomes, healthcare providers must strive for cultural competence. Hiring individuals from the communities they serve enhances patient trust, improves communication, and ultimately leads to better health outcomes. Prioritizing cultural competence should be a fundamental aspect of any comprehensive care model.

In conclusion, Strive Health and Oak Street Health exemplify the transformative potential of digital health in revolutionizing patient care. By leveraging technological innovations and forging strategic partnerships, these companies are reshaping the healthcare landscape. As we move forward, embracing data-driven solutions, fostering collaborations, and prioritizing cultural competence will be crucial in delivering high-quality, patient-centered care.

Resource:

  1. "Strive Health nabs $166M from CVS Health Ventures, others", https://www.modernhealthcare.com/digital-health/digital-health-cvs-health-ventures-strive-health-chris-riopelle (Glasp)
  2. "Q&A: Oak Street Health CEO on growth plans after CVS Health deal", https://www.modernhealthcare.com/providers/oak-street-health-ceo-mike-pykosz-cvs-health-deal (Glasp)

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