Kevin O'Leary’s Post

Privia Health's Q3 earnings report and call yesterday were a fascinating read / listen. As is par for the course with Privia, they again posted solid quarterly results. Their consistent performance in an otherwise tumultuous primary care enablement landscape is impressive. A couple of reflections on the quarter: - Privia touted its solid MSSP performance in 2024. For a business that is known for the phrase "its called risk for a reason", it seems to be performing really well in VBC, driven by a thoughtful approach to sharing risk between payers, providers, and Privia. As the tide goes out on global cap, it'll be interesting to see whether Privia leans in more to a narrative around thoughtful VBC expansion via this shared risk approach. It seems like a huge opportunity to me. - Privia's acquisition of Evolent's ACO business introduced an interesting new concept of market entry in a "light" manner via ACOs versus a "full" manner via an aligned medical group. Given the market opportunity in front of Privia, it'll be fascinating to keep an eye on this market entry strategy and how consistently Privia can drive results over time in markets with different approaches around provider alignment. I mentioned in Health Tech Nerds Slack this morning that Privia and Alignment Health both stand out as public health care services businesses that have navigated the past few years of chaos quite well. Underlying that performance across both companies is a key common thread: not overindexing on risk adjustment / global cap contracts. While the rest of the industry sprinted towards those dollars, Alignment and Privia have continued running their races, and it seems to be paying off for both now. I think there are a ton of lessons in these journeys for other healthcare entrepreneurs. I wrote up more reactions from Privia's on our earnings session below, and am excited to host Jason Ross, Privia's EVP of Medical Groups, on Tuesday morning to discuss the Q3 results further. https://lnkd.in/guWExb-Z