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Privia Health Launches Three New Accountable Care Organizations
Launched Three New ACOs in Maryland, Florida and TennesseeTransitions Four of its Existing ACOs to the MSSP Enhanced TrackPrivia ACOs now include 1,900+
About this update from Privia Health Group, Inc.
[{"type":"text","content":"Launched Three New ACOs in Maryland, Florida and TennesseeTransitions Four of its Existing ACOs to the MSSP Enhanced TrackPrivia ACOs now include 1,900+ Independent Providers Serving 168,000+ Medicare Beneficiaries in Medicare Shared Savings Program ARLINGTON, Va., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA), today announced it has launched three new Accountable Care Organizations (“ACOs”) in Maryland, Florida and Tennessee, each of which are participating in the Medicare Shared Savings Program (“MSSP”). This expands the total number of Privia-owned ACOs to seven, including its existing ACOs in Georgia, Gulf Coast Texas, North Texas and Virginia. Effective January 1, 2022, the Privia ACOs (collectively “Privia Quality Network”) will now include more than 1,900 independent providers delivering high-value, cost-efficient care to over 168,000 Medicare beneficiaries, with four of the seven ACOs now participating in the MSSP Enhanced Track with substantial, potential upside and downside financial risk, up from one ACO in the 2021 performance year. “As Privia Health continues to transform the healthcare delivery experience for patients and providers, we are proud to be launching new ACOs and continuing our relationship with CMS and the MSSP program,” said Privia Health CEO Shawn Morris. “We remain focused on executing on our deliberate, long-term plan to build scaled provider networks nationwide and enable our providers to transition profitably to increased risk in value-based programs over time. “Our physician and provider partners participate in more than 80 value-based arrangements that range from upside to fully capitated downside financial risk. Our proprietary Privia platform, combined with our physician-led organizational structure, provides the tools, technology and expertise to optimize practice operations and enable physicians to spend more time to care for their patients,” Morris added. “Our historical MSSP performance to date highlights our continued success in reducing unnecessary costs, achieving better outcomes and improving patient health. We expect our accomplishments in MSSP and our years of experience in managing and underwriting risk will help drive continuing success as we move toward.” In 2020, the most recent performance year, Privia Quality Network achieved aggregate shared saving...