U.S. families are burdened with the world’s most expensive healthcare with the prohibitive costs becoming a national crisis. Even with employer health coverage, families are forced to budget a significant portion of their income for health expenses including premiums and out-of-pocket costs. Shockingly, almost half of American adults fear that a major health event in their household could lead to bankruptcy.
However, a growing movement toward value-based healthcare is supplying a framework that incentivizes healthcare providers to focus on the quality of services rendered, as opposed to the quantity. Privia Health Group is one such provider aiming to transform healthcare delivery by providing tools, resources, and technology designed to help manage and improve the health of the communities it serves.
Privia operates as a national physician-enablement company, collaborating with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and in virtual settings. The company directly addresses several pressing issues facing physicians today including the transition to the value-based care reimbursement model, ever-increasing administrative requirements to operate a successful medical practice, and the need to engage patients using modern user-friendly technology.
Privia does this by organizing physicians and clinicians into a practice model that combines the advantages of a partnership in a large regional medical group with local autonomy for the physicians and clinicians.
Now managing over 870 practice locations, with 3,300 implemented physicians and providers that serve almost 4 million patients, Privia is now focused on growing its reach and share of the $2 trillion health care opportunity, as it expands its existing markets and enters new markets.