Privia Health Enters Delaware with Beebe Healthcare; Launches Ninth ACO

Rhea-AI Summary

Privia Health Group, Inc. (Nasdaq: PRVA) has announced a partnership with Beebe Healthcare to establish the Privia Quality Network — Delaware (PQN – DE), marking its expansion into the 11th state. This Accountable Care Organization will participate in the 2023 Medicare Shared Savings Program (MSSP), managing approximately 12,400 patient lives through over 200 providers. This initiative is designed to enhance value-based care via a robust analytics platform, benefiting both patients and healthcare providers. Since 2014, Privia Quality Network has generated over $740 million in shared savings across various programs, including $380 million from MSSP.

Positive

• Expansion into Delaware, marking Privia's 11th state.
• Collaboration with Beebe Healthcare enhances network strength.
• Participation in MSSP expected to drive shared savings.
• Over $740 million in total shared savings since 2014 indicates strong performance.

Negative

• None.

• Privia partners with Beebe Healthcare, a community health system and medical group
  
• ACO to participate in 2023 Performance Year with ~12,400 lives

ARLINGTON, Va., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA) today announced a partnership with Beebe Healthcare, a not-for-profit community healthcare system located in Sussex County, Delaware, to launch an Accountable Care Organization (ACO) named Privia Quality Network — Delaware (PQN – DE). The expansion into Delaware represents Privia Health’s 11th state and ninth ACO.

PQN – DE is participating in the Enhanced Track of the Medicare Shared Savings Program (MSSP) 2023 performance year with more than 200 providers caring for approximately 12,400 patient lives in the program. Beebe and Privia will look to expand the ACO to include community physicians throughout Delaware.

Providers joining only PQN – DE will be supported via Privia Care Partners, a robust analytics, reporting and population health platform to enhance their existing EHR system, optimize patient engagement and support a successful transition to value-based care.

“We are thrilled to be partnering with such a well-established healthcare system in the Mid-Atlantic region,” said Eric Beyer, President of Privia — Mid-Atlantic. “Beebe has over four years of experience participating in MSSP, which will continue to propel Privia Quality Network’s performance in the coming years. Beebe will leverage its tenured in-market population health team, paired with Privia’s technology and service expertise in value-based care.”

“This collaborative partnership with Privia Health will support our growth as we maintain our focus on delivering high-quality care across Sussex County, Delaware,” said Beebe Healthcare’s Vice President and Chief Population Health Officer Dr. Bill Chasanov. “Privia Health and the Privia Care Partners model will allow our physicians and providers to continue providing care for our patients, while furthering the transition into value-based care.”

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. Highlights of 2021 performance across Privia Quality Network can be found at priviahealth.com/pqn2021.

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

FAQ

What is the recent partnership announced by Privia Health (PRVA)?

Privia Health announced a partnership with Beebe Healthcare to launch the Privia Quality Network — Delaware (PQN – DE).

How many patients will Privia Quality Network — Delaware (PRVA) serve?

The PQN – DE will manage approximately 12,400 patient lives.

What program will the new Privia ACO participate in for 2023?

The new ACO will participate in the Enhanced Track of the Medicare Shared Savings Program (MSSP) for 2023.

How many providers are involved in the Privia Quality Network — Delaware (PRVA)?

There are over 200 providers involved in the PQN – DE.

What financial impact has Privia Quality Network had since 2014?

Since 2014, Privia Quality Network has delivered over $740 million in total shared savings.