Expands National Provider Network with more than 430 New Providers in California and Texas
ARLINGTON, Va., Oct. 18, 2021 (GLOBE NEWSWIRE) — Privia Health Group, Inc. (Nasdaq: PRVA), a technology-driven, national physician enablement company that collaborates with medical groups, health plans and health systems, today announced it is entering the California market and expanding its presence in Texas.
“We are extremely pleased to be collaborating with BASS Medical Group as we enter the state of California and expand our presence in Texas with a third anchor group,” said Shawn Morris, CEO, Privia Health. “It was critical to find the right partner who shares our vision to meet healthcare providers where they are on their journey to improve care in their communities, and we believe BASS Medical Group and The Abilene Clinic are the perfect anchor groups to bring our model of care to patients as we build a scaled network of primary and specialty care providers across the country.
“Our vision is to build scaled provider networks nationwide by adding physician practices in existing and new markets, and enabling our provider partners to transition profitably to increased risk in value-based programs over time,” Morris added. “These new partnerships help to accelerate our growth while demonstrating Privia Health’s ability to replicate our operating model with new medical groups in uniquely differentiated markets.”
Privia Health will provide an update to its full-year 2021 guidance when it reports third quarter financial results on November 8, which will include the expected impact of its market entry into California and West Texas.
California Market Entry
Privia Health has affiliated with BASS Medical Group to expand its footprint across the state of California. BASS Medical Group, one of the Greater San Francisco Bay Area’s leading healthcare multi-specialty groups, cares for patients at over 125 locations with more than 400 providers spanning 42 specialties, and will serve as Privia Health’s market anchor in California as the Company expands across the state. Privia Health now owns a majority interest in BASS Management Services Organization, LLC, which is the exclusive provider of management services to BASS Medical Group.
Inez Wondeh, Chief Executive Officer of BASS Medical Group, said, “We look forward to a highly collaborative partnership with Privia Health to support our current and future provider partners in enhancing patient engagement, reducing administrative burdens, strengthening practice vitality, and successfully transitioning to value-based care. We firmly believe that by leveraging Privia Health’s industry experience and expertise, robust technology solution, and physician-led governance and guidance, it will allow us to be successful in our pursuit of the quadruple aim.”
Privia Health’s interoperable technology platform enables care insights and collaboration for new and existing providers. Leveraging its population health expertise and comprehensive technology solution, Privia Health will provide an alternative to California physicians that desire to remain independent from hospitals and health systems while caring for patients across all reimbursement models.
BASS Medical Group’s legacy providers will remain on its existing Epic electronic health record (EHR) platform. New provider practices across the State of California are expected to join the full Privia Health technology solution.
West Texas Market Entry
Privia Health also announced that it is entering the West Texas market in partnership with Abilene Diagnostic Clinic, an independent multi-specialty group practice with more than 30 providers and five care center locations.
With the launch of Privia Medical Group – West Texas, Privia Health plans to expand from Abilene, Texas to the Texas Panhandle and across East Texas and West Texas. This will complement Privia Health’s established and expanding provider practice locations in North Texas (Dallas-Fort Worth) and the Gulf Coast region of the state, which in aggregate currently comprise more than 600 providers in over 200 care center locations.
Privia Health’s market entry in West Texas will add to its current Texas operations, taking advantage of economies of scale across the state. This anchor practice is expected to be fully implemented on the Privia Health platform before the end of 2021.
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. The Company’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.
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