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Meet Mike Pykosz, The Highest Paid CEO In The World Aside Elon Musk.
Mike Pykosz is a co-founder and the Chief Executive Officer of Oak Street Health, a network of primary care centres for adults on Medicare.
It is no longer news, that Elon Musk is the highest-paid CEO earning over 6 billion dollars as his yearly income, however, under Elon Musk is the unpopular Mike Pykosz of Oak Street Health who is earning over 500 million dollars annually according to Bloomberg.
Who is Mike Pykosz
Mike Pykosz is a co-founder and the Chief Executive Officer of Oak Street Health, a network of primary care centres for adults on Medicare. The 38 years old man holds a JD from Harvard Law School and a BS in Biochemistry from the University of Notre Dame.
Prior to founding Oak Street Health, Mike was a core member of the Payers and Providers practice at The Boston Consulting Group. While working on health care client projects at the firm in the late 2000s, Mike Pykosz noticed that a small number of patients drove expenses through the roof.
Low-income seniors made it a habit of going to the emergency room instead of checking in with their primary care physicians. Medicare managed-care plans were getting socked with huge hospital bills.
Pykosz wrote a paper for Boston Consulting arguing that if you reduced emergency room usage and hospitalizations, you could save a lot of money reinvest those savings in primary care where patients ought to be treated in the first place. “Why am I telling people to do this?” he asked himself one day. “We should just do this ourselves.”
Oak Street Health
Oak Street Health
In collaboration with two BCG colleagues, MIke Pykosz in 2013 founded Oak Street Health in Chicago’s Portage Park neighbourhood. They offered same-day appointments, free transport to the doctor’s office and a care team around each physician to manage chronic illnesses like diabetes and pulmonary disease.
The organization developed a community outreach strategy to engage its patients. They also integrate population health analytics, social support services, chronic care management, and primary care into their care model to drive improved outcomes and lower downstream utilization.
The company currently operates 20 clinics serving 28,000 patients in 6 markets across 3 states and has plans for further expansion. As the CEO of Oak Street Health, Mike Pykosz is leading a growing team of 750 employees who are delivering best in class healthcare in underserved communities.