Privia Health Group Inc
priviahealth.comWhat Do They Do?
Provides healthcare to patients through organized physician groups, and supplies technology and management services to physician practices while working with health plans and health systems.
10-K for FY2025, filed Feb 27, 2026Privia Health Group, Inc. (“Privia Health”, “we”, “our”, or the “Company”) is a technology-driven, national physician-enablement company…View ↗
We organize physicians into cost efficient, value-based and primary-care centric networks bolstered by strong physician governance, and…View ↗
We principally derive our revenues from the following four sources: (i) FFS-patient care revenue generated from providing healthcare…View ↗
How Do They Make Money?
Most revenue comes from insurers and patients reimbursing healthcare services provided by Privia physicians, while medical groups pay administration fees based on patient-care collections. Health plans pay fixed monthly amounts for attributed patients, while shared-savings payments depend on quality and care costs, and care-management fees come through contracts with commercial payers and the federal government.
10-K for FY2025, filed Feb 27, 2026We generate FFS-patient care revenue when we collect reimbursements for FFS medical services provided by Privia Providers. Our multi-year…View ↗
FFS-administrative services revenue is earned through the Company’s MSA with Non-Owned Medical Groups primarily based on a fixed percentage…View ↗
VBC revenue is primarily earned through contracts that include Capitated revenue, Shared savings and Care management fees. Capitated…View ↗
For shared savings arrangements, the Company estimates the transaction price by analyzing the activities during the relevant time period in…View ↗
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by product or service ↗
$2.1B
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10-K for FY2025, filed Feb 27, 2026
$2.1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
FFS-patient care
Sold outright
10-K for FY2025, filed Feb 27, 2026 |
64%
FY2022: 64%
|
FFS-patient care, FY2025
$1.4B Sources
|
Sold outright |
|
FFS-administrative services
|
6.5%
FY2022: 7.0%
|
FFS-administrative services, FY2025
$137M Sources
|
|
|
Capitated revenue
Recurring
10-K for FY2025, filed Feb 27, 2026 |
15%
FY2022: 16%
|
Capitated revenue, FY2025
$308.5M Sources
|
Recurring |
|
Shared savings
Recurring
10-K for FY2025, filed Feb 27, 2026 |
11%
FY2022: 9.8%
|
Shared savings, FY2025
$234.8M Sources
|
Recurring |
|
Care management fees (PMPM)
Recurring
|
3.5%
FY2022: 2.6%
|
Care management fees (PMPM), FY2025
$73.1M Sources
|
Recurring |
|
Other revenue
|
0.4%
FY2022: 0.4%
|
Other revenue, FY2025
$9.2M Sources
|
Who Are Their Customers?
Patients receive care through Privia Providers; health insurers and government programs contract for care and value-based arrangements. Employers can arrange medical benefits through Privia networks, and Privia provides management services to medical groups it does not own.
10-K for FY2025, filed Feb 27, 2026We provide management services to the Medical Groups though local management services organizations (each, an “MSO”), which provide Medical…View ↗
Payers: We align incentives with our payer partners by linking performance to rewards and enter into custom contracts serving all…View ↗
Employers: We work with employers to deliver customized medical benefits packages supported by our provider networks. Our enhanced primary…View ↗
FFS-patient care is primarily generated from third-party payers with which the Company has established contractual billing arrangements.…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 27, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Aug 6, 2026
Privia raised its full-year financial guidance
It raised 2026 guidance for attributed lives and moved several financial measures to the high or mid-to-high end of prior ranges.
Sources
8-K, filed Aug 6, 2026
–Full-Year 2026 Guidance Raised for All Key Financial MetricsView ↗
Growing. Revenue grew 2.2x in 4 years, from $966.2M in FY2021 to $2.1B in FY2025, about 22% a year.
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