Privia Health Group, Inc. (NASDAQ: PRVA) has reported a significant increase in its accountable care organizations' (ACOs) performance in the 2024 Medicare Shared Savings Program (MSSP) compared to the previous year. The ACOs achieved shared savings of $233.1 million, marking a substantial 32% increase from 2023.
The Privia Quality Network (PQN), consisting of nine ACOs, managed over $2.5 billion in healthcare benchmark spend through approximately 3,280 providers, delivering high-value, cost-efficient care to around 194,700 Medicare beneficiaries in 2024.
Key performance highlights for PQN in the 2024 MSSP include: Earned savings for all nine ACOs, delivering an aggregate savings rate of 9.3% The Mid-Atlantic ACO realized the highest savings rate at 10.6% compared to all ACOs with over 40,000 attributed lives participating in the MSSP Achieved beneficiary expenditures 8% lower than the median ACO and 22% below fee-for-service Medicare Delivered inpatient facility spend 13% lower than the median ACO and 28% lower than fee-for-service Medicare Achieved outpatient facility spend 23% lower than the median ACO and 35% lower than fee-for-service Medicare Realized emergency department visits 17% lower than the median ACO and 25% below fee-for-service Medicare Achieved an aggregate quality score of 89% Three out of nine ACOs had greater than 50% year-over-year growth in earned savings per patient
This strong performance has also led to Privia Health increasing its adjusted EBITDA guidance for the full-year 2025 to a range of $113 to $116 million, demonstrating the company's positive outlook and financial growth potential.
Privia Health's success in the 2024 MSSP underscores the effectiveness of its physician-led approach and the value of data-driven tools and strategic tactics for its physician partners. The company continues to support physician practices and over 1.38 million attributed lives in various CMS Medicare programs, Medicare Advantage, commercial, and Medicaid arrangements, with total shared savings across these programs exceeding $1.5 billion since 2014, including $922 million through participation in the MSSP.
As Privia Health aims to transform healthcare delivery to achieve better outcomes, lower costs, and improve the health of communities and the well-being of providers, its strong financial performance and increased guidance for 2025 reflect its commitment to delivering high-value care and driving positive results for both patients and the healthcare system. The market has reacted to these announcements by moving the company's shares 0.28% to a price of $21.81. For more information, read the company's full 8-K submission here.
