Privia Health's Accountable Care Organizations (ACOs) achieved shared savings of $233.1 million through the Medicare Shared Savings Program (MSSP) in 2024, showing a 32% increase from the previous year.
The success was attributed to a physician-led approach and effective management of total cost of care, benefiting nearly 195,000 Medicare beneficiaries.
Privia Quality Network (PQN) managed over $2.5 billion in healthcare spend through approximately 3,280 providers, emphasizing high-value and cost-efficient care.
Significant Savings Increase
Achieved a 32% year-over-year increase in shared savings, totaling $233.1 million in 2024.
High Savings Rate
The Mid-Atlantic ACO had the highest savings rate at 10.6% among ACOs with 40,000+ attributed lives participating in MSSP.
Financial Guidance Update
Privia increased its Adjusted EBITDA guidance for full-year 2025 to a range of $113 to $116 million based on the 2024 MSSP results.
Quality Performance
Attained an aggregate quality score of 89% and lower expenditure rates compared to median ACOs and fee-for-service Medicare in various categories.
Support for Physician Practices
Privia Quality Network supports over 1.38 million attributed lives in various Medicare programs since 2014, delivering total shared savings of over $1.5 billion.
- Privia Health's success in the MSSP program showcases the efficacy of a physician-led approach and the use of technology to manage costs effectively.
- The company's financial guidance update for 2025 reflects the positive impact of the 2024 performance results, indicating a promising outlook for continued growth and savings.
- The quality performance metrics highlight Privia's commitment to delivering high-value care and achieving significant savings across healthcare expenditures.
The Privia Health Group's exceptional performance in the Medicare Shared Savings Program for 2024 underscores the company's commitment to high-quality, cost-efficient healthcare delivery. With substantial savings, strong quality scores, and support for physician practices, Privia continues to lead in transforming healthcare delivery and improving patient outcomes.