Privia Health Launches Two New Accountable Care Organizations
- Privia’s ACOs expands into Delaware and North Carolina
- Privia’s ACOs now include 2,500+ Independent Providers Serving 191,700+ Medicare Beneficiaries in Medicare Shared Savings Program
ARLINGTON, Va., Jan. 17, 2023 (GLOBE NEWSWIRE) — Privia Health Group, Inc. (Nasdaq: PRVA) today announced it has launched two new Accountable Care Organizations (“ACOs”), now including providers in Delaware and North Carolina, which are participating in the Medicare Shared Savings Program (“MSSP”). This expands the total number of Privia-owned ACOs to nine, serving beneficiaries across the District of Columbia and ten states, including California, Delaware, Florida, Georgia, Maryland, Montana, North Carolina, Tennessee, Texas, and Virginia.
Effective January 1, 2023, the Privia ACOs (collectively “Privia Quality Network”) will now include more than 2,500 independent providers delivering high-value, cost-efficient care to over 191,700 Medicare beneficiaries. Five of the nine ACOs are participating in the MSSP Enhanced Track with substantial, potential upside and downside financial risk.
“As Privia continues to expand our national footprint, we are proud to continue launching new ACOs and expanding our relationship with CMS and the MSSP program,” said Mark Foulke, Privia Health Executive Vice President Transformational Value-Based Care. “We remain focused on building scaled provider networks nationwide and enabling our providers to transition profitably and intelligently to increased risk in value-based programs over time.”
In 2021, the most recent performance year, Privia Quality Network achieved aggregate shared savings of $99.9 million through MSSP, with 100% of our ACOs achieving shared savings. Other notable 2021 performance highlights across Privia Quality Network can be found at priviahealth.com/pqn2021. Since Privia Quality Network started participating in MSSP in 2014, Privia Quality Network has delivered total shared savings across government programs and commercial payers of more than $740 million, including more than $380 million through participation in the MSSP.
About Privia Health
Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Privia Health’s platform is led by top industry talent and exceptional physician leadership, and consists of scalable operations and end-to-end, cloud-based technology that reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and the well-being of providers. For more information, visit priviahealth.com.
Contact
Robert Borchert
SVP, Investor & Corporate Communications
IR@priviahealth.com
817.783.4841
