Company Delivers Over $57 Million in Shared Savings Through the 2019 MSSP across Georgia, Texas, Virginia and Washington, DC
ARLINGTON, VA – (September 15, 2020) – Privia Health (“Privia”) announced today that each of its Accountable Care Organizations (ACOs) across the national Privia Quality Network delivered quality care and improved patient outcomes, achieving shared savings of $57 million through the Medicare Shared Savings Program (MSSP). The Privia Health ACOs provided high-value, cost-efficient care to more than 119,000 Medicare beneficiaries in 2019.
These company-wide results reflect Privia’s commitment to improving the health of the communities we serve through technology, team-based care, and unique wellness programs to keep people healthy, prevent disease, and improve care coordination both in and outside of the doctor’s office.
“Our physicians, healthcare providers, care management teams and staff provide exceptional care when, where and how patients want to receive their care,“ said Shawn Morris, CEO, Privia Health. “These results are continued proof that the Privia national physician platform is transforming the healthcare delivery experience for patients and physicians. We know doctors and understand how to meet them where they are on their journey to transform care in their community.”
Privia Quality Network’s four ACOs participating in the MSSP include physicians in Georgia, Texas, Virginia and Washington, DC. Since 2014, the company has delivered total shared savings across government programs and commercial payers of more than $425 million, including nearly $195 million through participation in the MSSP.
In addition to the significant 2019 savings Privia generated, other noteworthy highlights across all four ACOs include:
- Delivered total annual average expenditures 14% lower than the median MSSP ACO and 22% lower than total Fee for Service Medicare
- Achieved weighted average emergency room utilization 20% lower than the median MSSP ACO and 28% lower than total Fee for Service Medicare.
- Delivered weighted average outpatient facility spend 25% lower than the median MSSP ACO and 36% lower than total Fee for Service Medicare.
- Accomplished weighted average inpatient facility spend 18% lower than the median MSSP ACO and 28% lower than total Fee for Service Medicare.
- Performed over a 92% quality score in each region.
“Privia’s proprietary platform gives physicians more time to spend with their patients by providing the talent, tools and technology to maximize their operations and deliver an ideal patient experience,” said Keith Fernandez, M.D., Chief Clinical Officer of Privia Health. “We’re extremely proud of our MSSP results that demonstrate our physician’s ability to improve patient outcomes in their communities and lower total cost of care.”
The amount of Medicare healthcare expenses under management by Privia’s ACOs has grown from $111 million (2014) to $1.7 billion (2019). Established through the Affordable Care Act, MSSP facilitates coordination and cooperation among providers that form ACOs to improve health outcomes, increase the standards of care and reduce unnecessary costs, benefiting more than 11 million patients.
About Privia Health
Privia Health™ is a national physician organization that transforms the healthcare delivery experience for physicians and consumers. Utilizing a platform of talent, tools and highly enabling technology, Privia has a proven track record of developing and elevating physician groups to top tier performance. Their approach of meeting providers where they are on the value continuum and partnering with health plans, health systems, and employers to better align reimbursements to quality, outcomes and performance has proven to be successful and replicable across multiple geographies. This platform of top industry talent, physician leadership development, scalable systems and proprietary technology reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and well being of providers. For more information: www.priviahealth.com. @PriviaHealth