Privia Health Launches Two New Accountable Care Organizations
Privia Health Group (Nasdaq: PRVA) has expanded its reach by launching two new Accountable Care Organizations (ACOs) in Delaware and North Carolina, bringing its total ACOs to nine. This initiative, effective January 1, 2023, allows over 2,500 independent providers to serve more than 191,700 Medicare beneficiaries through the Medicare Shared Savings Program (MSSP). Privia’s ACOs have achieved notable success, having generated $99.9 million in shared savings in 2021, with overall savings exceeding $740 million since joining MSSP in 2014. The expansion reflects Privia's commitment to enhancing value-based care across the nation.
- Expansion of ACOs into Delaware and North Carolina increases market presence.
- Now includes over 2,500 independent providers serving 191,700+ Medicare beneficiaries.
- In 2021, achieved $99.9 million in shared savings, with all ACOs gaining savings.
- Total shared savings across government programs and commercial payers exceeds $740 million since 2014.
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- 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
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
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