0001759655-21-000023 | 10-Q | XBRL Viewer

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Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2021	Aug. 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-40365
Entity Registrant Name	Privia Health Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3599420
Entity Address, Address Line One	950 N. Glebe Rd.,
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Arlington,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22203
City Area Code	571
Local Phone Number	366-8850
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	PRVA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,742,962
Entity Central Index Key	0001759655
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 299,751	$ 84,633
Accounts receivable	126,872	99,118
Prepaid expenses and other current assets	9,827	6,333
Total current assets	436,450	190,084
Non-current assets:
Property and equipment, net	4,449	4,814
Right-of-use asset	5,618	0
Intangible assets, net	5,659	5,980
Goodwill	118,663	118,663
Deferred tax asset	23,162	4,953
Other non-current assets	3,138	4,475
Total non-current assets	160,689	138,885
Total assets	597,139	328,969
Current liabilities:
Accounts payable	4,517	5,235
Accrued expenses	23,910	31,185
Physician and practice liability	131,027	106,811
Current portion of note payable	1,313	875
Operating lease liabilities, current	2,188	0
Other current liabilities	4,363	2,832
Total current liabilities	167,318	146,938
Non-current liabilities:
Note payable, net of current portion	31,893	32,784
Operating lease liabilities, non-current	8,124	0
Other non-current liabilities	333	5,595
Total non-current liabilities	40,350	38,379
Total Liabilities	207,668	185,317
Commitments and contingencies (Note 11)
Stockholders’ equity:
Common stock, $0.01 par value, 1,000,000,000 and 150,000,000 shares authorized; 105,740,462 and 95,985,817 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	1,057	960
Additional paid-in capital	579,257	165,666
Accumulated deficit	(187,014)	(19,878)
Total Privia Health Group, Inc. stockholders’ equity	393,300	146,748
Non-controlling interest	(3,829)	(3,096)
Total stockholders’ equity	389,471	143,652
Total liabilities and stockholders’ equity	$ 597,139	$ 328,969

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	150,000,000
Common stock, shares issued (in shares)	105,740,462	95,985,817
Common stock, shares outstanding (in shares)	105,740,462	95,985,817

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 225,756	$ 183,264	$ 439,363	$ 396,206
Operating expenses:
Physician and practice expense	169,937	141,521	331,050	306,627
Cost of platform	68,731	24,331	95,693	51,892
Sales and marketing	11,178	2,220	14,362	4,672
General and administrative	168,657	8,419	182,653	19,408
Depreciation and amortization	440	594	885	932
Total operating expenses	418,943	177,085	624,643	383,531
Operating (loss) income	(193,187)	6,179	(185,280)	12,675
Interest expense	302	509	593	976
(Loss) income before (benefit from) provision for income taxes	(193,489)	5,670	(185,873)	11,699
(Benefit from) Provision for income taxes	(20,004)	474	(18,004)	1,174
Net (loss) income	(173,485)	5,196	(167,869)	10,525
Less: Loss attributable to non-controlling interests	(951)	(85)	(733)	(170)
Net (loss) income attributable to Privia Health Group, Inc.	$ (172,534)	$ 5,281	$ (167,136)	$ 10,695
Net (loss) income per share attributable to Privia Health Group, Inc. stockholders – basic (in dollars per share)	$ (1.68)	$ 0.06	$ (1.68)	$ 0.11
Net (loss) income per share attributable to Privia Health Group, Inc. stockholders – diluted (in dollars per share)	$ (1.68)	$ 0.06	$ (1.68)	$ 0.11
Weighted average common shares outstanding - basic (in shares)	102,739,033	95,931,549	99,381,053	95,931,549
Weighted average common shares outstanding – diluted (in shares)	102,739,033	95,931,549	99,381,053	95,931,549

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total Stockholders’ Equity attributable to Privia Health Group, Inc.	Non-controlling Interest
Beginning Balance (in shares) at Dec. 31, 2019		95,931,549
Beginning Balance at Dec. 31, 2019	$ 107,456	$ 959	$ 160,375	$ (51,122)	$ 110,212	$ (2,756)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	121		121		121
Net (loss) income	5,329			5,414	5,414	(85)
Ending Balance (in shares) at Mar. 31, 2020		95,931,549
Ending Balance at Mar. 31, 2020	112,906	$ 959	160,496	(45,708)	115,747	(2,841)
Beginning Balance (in shares) at Dec. 31, 2019		95,931,549
Beginning Balance at Dec. 31, 2019	107,456	$ 959	160,375	(51,122)	110,212	(2,756)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	10,525
Ending Balance (in shares) at Jun. 30, 2020		95,931,549
Ending Balance at Jun. 30, 2020	118,223	$ 959	160,617	(40,427)	121,149	(2,926)
Beginning Balance (in shares) at Mar. 31, 2020		95,931,549
Beginning Balance at Mar. 31, 2020	112,906	$ 959	160,496	(45,708)	115,747	(2,841)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	121		121		121
Net (loss) income	5,196			5,281	5,281	(85)
Ending Balance (in shares) at Jun. 30, 2020		95,931,549
Ending Balance at Jun. 30, 2020	118,223	$ 959	160,617	(40,427)	121,149	(2,926)
Beginning Balance (in shares) at Dec. 31, 2020		95,985,817
Beginning Balance at Dec. 31, 2020	143,652	$ 960	165,666	(19,878)	146,748	(3,096)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	101		101		101
Net (loss) income	5,616			5,398	5,398	218
Ending Balance (in shares) at Mar. 31, 2021		95,985,817
Ending Balance at Mar. 31, 2021	149,369	$ 960	165,767	(14,480)	152,247	(2,878)
Beginning Balance (in shares) at Dec. 31, 2020		95,985,817
Beginning Balance at Dec. 31, 2020	143,652	$ 960	165,666	(19,878)	146,748	(3,096)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(167,869)
Ending Balance (in shares) at Jun. 30, 2021		105,740,462
Ending Balance at Jun. 30, 2021	389,471	$ 1,057	579,257	(187,014)	393,300	(3,829)
Beginning Balance (in shares) at Mar. 31, 2021		95,985,817
Beginning Balance at Mar. 31, 2021	149,369	$ 960	165,767	(14,480)	152,247	(2,878)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon closing of initial public offering (in shares)		9,725,000
Issuance of common stock upon closing of initial public offering	210,994	$ 97	210,897		210,994
Issuance of common stock upon exercise of stock options and vesting of restricted stock units (in shares)		29,645
Issuance of common stock upon exercise of stock options and vesting of restricted stock units	33		33		33
Stock-based compensation expense	202,560		202,560		202,560
Net (loss) income	(173,485)			(172,534)	(172,534)	(951)
Ending Balance (in shares) at Jun. 30, 2021		105,740,462
Ending Balance at Jun. 30, 2021	$ 389,471	$ 1,057	$ 579,257	$ (187,014)	$ 393,300	$ (3,829)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net (loss) income	$ (167,869)	$ 10,525
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	564	599
Amortization of intangibles	320	321
Amortization of debt issuance costs	77	67
Stock-based compensation	202,661	242
Deferred tax (benefit) provision	(18,209)	1,270
Changes in asset and liabilities:
Accounts receivable	(27,754)	(20,651)
Prepaid expenses and other current assets	(9,112)	(1,541)
Other non-current assets	1,337	2,297
Accounts payable	(810)	2,357
Accrued expenses	(7,275)	(3,937)
Physician and practice liability	24,216	14,012
Other current liabilities	1,531	617
Operating lease liabilities	10,312	0
Other long-term liabilities	(5,262)	512
Net cash provided by in operating activities	4,727	6,690
Cash from investing activities
Purchases of property and equipment	(199)	(379)
Net cash used in investing activities	(199)	(379)
Cash flows from financing activities
Proceeds from initial public offering	223,686	0
Payments of underwriting fees, net of discounts and offering costs	(12,658)	0
Repayment of note payable	(438)	(438)
Proceeds from revolving loan	0	10,000
Net cash provided by financing activities	210,590	9,562
Net increase in cash and cash equivalents	215,118	15,873
Cash and cash equivalents at beginning of period	84,633	46,889
Cash and cash equivalents at end of period	299,751	62,762
Supplemental disclosure of cash flow information:
Interest paid	585	914
Income taxes paid	$ 451	$ 46

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Organization Privia Health Group, Inc. (NASDAQ: PRVA) (“we”, “our” the “Company”), became the sole shareholder of PH Group Holdings Corp. (“PH Holdings”) (formerly Brighton Health Services Holding Corporation) effective August 11, 2016. At the time, the Company was a wholly owned subsidiary of Brighton Health Group Holdings, LLC (“BHG Holdings”) (formerly MC Acquisition Holdings I, LLC, HoldCo). The Company uses the same operational and financial model in each market. As of June 30, 2021, Privia operates in six markets: 1) the Mid-Atlantic Region (states of Virginia, Maryland and the District of Columbia); 2) the state of Georgia; 3) the Gulf Coast Region (Houston, Texas); 4) North Texas (Dallas/Fort Worth, Texas); 5) Central Florida and 6) the state of Tennessee. Medical groups are formed in each market with the primary purpose to operate as a physician group practice with healthcare services being furnished through physician members (“Privia Physicians”) and non-physician clinicians (together, “Privia Providers”) supervised by Privia Physicians. The Company also forms local management companies to provide administrative and management services (“MSOs”) to the medical groups through a Management Services Agreement (“MSA”) in each market. The Company owns 100% of all MSOs, except two where the Company is at least the majority owner. Initial Public Offering On May 3, 2021, the Company closed its initial public offering (“IPO”) of 22,425,000 shares of the Company’s common stock, $0.01 par value per share, at an offering price of $23.00 per share. On May 3, 2021, the Company also sold 4,000,000 shares to an affiliate of Anthem, Inc. (“Anthem”) in a private placement. In aggregate, the shares issued in the offering and Anthem private placement generated gross proceeds of $223.7 million and $211.0 million in net proceeds, which is net of underwriters’ discounts and commissions, and other offering costs. Basis of Presentation The condensed consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its subsidiaries. Amounts shown on the condensed consolidated statements of operations within the operating expense categories of physician and practice expense, cost of platform, selling and marketing, and general and administrative are recorded exclusive of depreciation and amortization. All significant intercompany transactions are eliminated in consolidation. The results of operations for the three and six months ended June 30, 2021, are not indicative of the results to be expected for the full fiscal year ending December 31, 2021. The condensed balance sheet at December 31, 2020, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. In the opinion of management, all adjustments (consisting of only normal and recurring adjustments) considered necessary for a fair statement have been included. Variable Interest Entities Management evaluates the Company’s ownership, contractual, and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”). These evaluations are complex, involve judgment, and the use of estimates and assumptions based on available historical information, among other factors. Privia Physicians join the medical group in their geographic market as an owner of such medical group. Certain of our medical groups are majority-owned by the Company (each, an “Owned Medical Group”), with Privia Physicians owning a minority interest, and some medical groups are owned entirely by Privia Physicians (each, a “Non-Owned Medical Group”). The Company evaluated its relationship with Non-Owned Medical Groups and their historic practice entities (the “Affiliated Practices”) as well as its relationship with Affiliated Practices associated with Owned Medical Groups to determine if any of these entities should be subject to consolidation. The Company does not have ownership interest in any Affiliated Practices; nor does the Company have an ownership in Non-Owned Medical Groups. The Physician Member Services Agreement (“PMSA”) and Support Services Agreement (“SSA”) entered by Non-Owned Medical Groups with their Privia Physician members and the Affiliated Practices are not contractual relationships within Privia’s legal structure. The only contractual relationship between Privia and Non-Owned Medical Groups is established through the MSA. Management has determined, based on the provisions of the MSAs between the Company and Non-Owned Medical Groups, and after considering the requirements of Accounting Standards Codification (“ASC”) Topic 810, Consolidation (“ASC 810”), the Company is not required to consolidate the financial position or results of operations of the Affiliated Practices associated with Owned Medical Groups; nor is it required to consolidate the financial position or results of operations of Non-Owned Medical Groups (and, therefore, the Company is not required to consolidate the Affiliated Practices of the Non-Owned Medical Groups). Based on the Company’s evaluations, Non-Owned Medical Groups do not represent VIEs. Accordingly, the Company has not consolidated the financial position, results of operations or cash flows of the Non-Owned Medical Groups that are affiliated with the Company by means of a SSA for the six months ended June 30, 2021 and 2020. Each time the Company enters into a new service agreement or enters into a material amendment to an existing service agreement, the Company considers whether the terms of that agreement or amendment would change the elements it considers in accordance with the VIE guidance. The same analysis was performed for the Affiliated Practices of Owned Medical Groups, which have contractual relationships with Privia through SSAs, and the Company determined they do not represent VIEs as they do not meet the criteria in ASC 810. Emerging Growth Company Status We are an emerging growth company under the Jumpstart Our Business Startups Act (the “JOBS Act”). The JOBS Act provides that an emerging growth company can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have irrevocably elected to avail ourselves of this exemption and, therefore, we will not be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies. Subject to certain conditions set forth in the JOBS Act, if, as an “emerging growth company”, we choose to rely on such exemptions, we may not be required to, among other things, (i) provide an auditor’s attestation report on our system of internal controls over financial reporting pursuant to Sarbanes-Oxley Act of 2002, Section 404, (ii) provide all of the compensation disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the Public Company Accounting Oversight Board (“PCAOB”) regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv) hold non-binding advisory votes on executive compensation and obtain shareholder approval of any golden parachute payments not previously approved. These exemptions will apply for a period of five years following the completion of our IPO or until we are no longer an “emerging growth company,” whichever is earlier. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure. On an on-going basis we evaluate significant estimates and assumptions, including, but not limited to, revenue recognition, stock-based compensation, estimated useful lives of assets, intangible assets subject to amortization, and the computation of income taxes. Future events and their effects cannot be predicted with certainty; accordingly, the Company’s accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the financial statements will change as new events occur, as more experience is acquired, as additional information is obtained, and as the Company’s operating environment changes. Management evaluates and updates assumptions and estimates on an ongoing basis. Actual results may differ from these estimates under different assumptions or conditions. Operating Segments The Company determined in accordance with ASC 280, Segment Reporting (“ASC 280”) that the Company operates in and reports as a single operating segment, and therefore one reporting segment – Privia Health Group, Inc. Refer to Note 14 “Segment Financial Information” for additional information concerning the Company’s services. Coronavirus Aid, Relief and Economic Stimulus Act (“CARES Act”) The current COVID-19 pandemic had an impact on our results of operations, cash flow and financial position for the three and six months ended and as of June 30, 2021, as we experienced lower volumes than anticipated and shifts in the mix of services provided after the onset of the pandemic in the United States. See the Prospectus for additional information on impacts during 2020. We are closely monitoring the impact of the pandemic on all aspects of our business including impacts to employees, customers, patients, suppliers and vendors. On March 27, 2020, the CARES Act was passed. It is intended to provide economic relief to individuals and businesses affected by the coronavirus pandemic. It also contains provisions related to healthcare providers’ operations and the issues caused by the coronavirus pandemic. The following are significant economic impacts for the Company and its subsidiaries as a result of specific provisions of the CARES Act for the three and six month periods ended June 30, 2021: •The Company elected to defer its portion of Social Security taxes in 2020, which may be repaid over two years as follows: 50% by the end of 2021 and 50% by the end of 2022. Approximately $1.6 million is recorded in accrued expenses on the balance sheet as of June 30, 2021 related to this deferral and the Company intends to remit payment by the end of 2021; and •The Company received $13.3 million in grant funds from the Provider Relief Fund under the CARES Act during the three and six months ended June 30, 2020. No funds were received from the Provider Relief Fund under the CARES Act during the three and six months ended June 30, 2021. Non-Controlling Interest The non-controlling interest represents the equity interest of the non-controlling equity holders in results of operations of Complete MD Solutions LLC, Privia Management Services Organization (“PMSO”) and our Owned Medical Groups. The condensed consolidated financial statements include all assets, liabilities, revenues, and expenses of less-than-100%-owned affiliates where the Company has a controlling financial interest. The Company has separately reflected net income attributable to the non-controlling interests in net income in the condensed consolidated statements of operations. Significant Accounting Policies The Company described its significant accounting policies in Note 1 of the notes to condensed consolidated financial statements for the year ended December 31, 2020 in the Prospectus. During the three and six months ended June 30, 2021, there were no significant changes to those accounting policies, other than those policies impacted by the new accounting pronouncements adopted during the period noted below and further described below in “Recently Adopted Accounting Pronouncements.” Leases Beginning January 1, 2021, the Company accounts for its leases in accordance with ASU 2016-2, Leases (Topic 842). The Company evaluates whether a contract is or contains a lease at the inception of the contract. Upon lease commencement, which is defined as the date on which a lessor makes the underlying asset available to the Company for use, the Company classifies the lease as either an operating or finance lease. The Company’s leases primarily consist of operating leases for office space in certain states in which we operate. The Company also has operating leases for equipment, which are not significant. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease liabilities are measured at the present value of the remaining, fixed lease payments at lease commencement. The Company uses its incremental borrowing rate, adjusted for the effects of collateralization, based on the information available at the later of adoption, inception, or modification in determining the present value of lease payments. Right-of-use assets are measured at an amount equal to the initial lease liability, plus any prepaid lease payments (less any incentives received) and initial direct costs, at the lease commencement date. The Company has elected to account for lease and non-lease components as a single lease component for its facility leases. As a result, the fixed payments that would otherwise be allocated to the non-lease components are accounted for as lease payments and are included in the measurement of the Company’s right-of-use asset and lease liability. Lease expense for lease payments is recognized on a straight-line basis over the lease term in general and administrative expense on the condensed consolidated statements of operations. The Company does not recognize a lease liability or right-of-use asset on the balance sheet for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. When determining whether a lease qualifies as a short-term lease, the Company evaluates the lease term and the purchase option in the same manner as all other leases. Recently Adopted Accounting Pronouncements The Company adopted Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), as of January 1, 2021 using the modified retrospective transition approach for leases which existed on that date. Prior comparative periods were not adjusted and continue to be reported in accordance with Accounting Standards Codification (“ASC”) Topic 840, Leases. The Company elected the package of practical expedients that permitted the Company not to reassess the Company’s prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight practical expedient. The adoption of the standard resulted in the recognition of operating right-of-use assets of approximately $6.0 million and operating lease liabilities of approximately $11.3 million. Refer to Note 4 “Leases” for additional details. The difference between the operating lease right-of-use assets and operating lease liabilities resulted from the reclassification of deferred rent. Adoption of the standard did not have a material impact on the consolidated statements of operations or cash flows for the three months and six months ended June 30, 2021. The Company did not recognize a cumulative-effect adjustment to retained earnings upon adoption. On January 1, 2021, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“CECL”), which replaces the incurred loss approach for recognizing credit losses on financial instruments with an expected loss approach. The expected loss approach is subject to management judgments using assessments of incurred credit losses, assessments of current conditions, and forecasts using reasonable and supportable assumptions. The Company adopted the standard using a modified retrospective approach which resulted in no adjustments to the allowance for credit losses and no cumulative-effect adjustment to retained earnings. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors, including historical losses adjusted for current market conditions, the Company's customers' financial condition, delinquency trends, aging behaviors of receivables and credit and liquidity indicators for industry groups, and future market and economic conditions. As of June 30, 2021, the allowance for credit losses was not material. Recently Issued Accounting Pronouncements Pending Adoption In March 2020, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12). ASU 2019-12 eliminates certain exceptions related to the approach for intra period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This guidance is effective for the Company for the year ending December 31, 2022. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2019-12 on its condensed consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides temporary relief from some of the existing rules governing contract modifications when the modification is related to the replacement of the London Interbank Offered Rate (“LIBOR”) or other reference rates discontinued as a result of reference rate reform. The ASU specifically provides optional practical expedients for contract modification accounting related to contracts subject to ASC 310, Receivables, ASC 470, Debt, ASC 842, Leases, and ASC 815, Derivatives and Hedging. The ASU also establishes a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and certain elective hedge accounting expedients. For eligible contract modifications, the principle generally allows an entity to account for and present modifications as an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. That is, the modified contract is accounted for as a continuation of the existing contract. The standard was effective upon issuance on March 12, 2020, and the optional practical expedients can generally be applied to contract modifications made and hedging relationships entered into on or before December 31, 2022. Borrowings under the Company’s note payable agreement bear interest based on LIBOR or an alternate rate. Provisions currently provide the Company with the ability to replace LIBOR with a different reference rate in the event that LIBOR ceases to exist.

Revenue Recognition

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

The following table presents our revenues disaggregated by source:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Dollars in Thousands)	2021		2020		2021		2020
FFS-patient care	$	180,821	$	131,324	$	350,398	$	306,194
FFS-administrative services	15,345		13,619		30,756		28,174
Shared savings	18,879		17,097		36,712		33,536
Care management fees (PMPM)	9,374		7,066		17,945		13,296
Other revenue	1,337		14,158		3,552		15,006
Total Revenue	$	225,756	$	183,264	$	439,363	$	396,206

Fee-for-service (“FFS”) patient care is primarily generated from third-party payers with which the Company has established contractual billing arrangements. The following table presents the approximate percentages by source of net operating revenue received for healthcare services we provided for the periods indicated:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Commercial insurers	67	%	68	%	68	%	68	%
Government payers	17	%	16	%	16	%	15	%
Patient	16	%	16	%	16	%	17	%
	100	%	100	%	100	%	100	%

FFS-administrative services revenue is earned through the Company’s MSA with Non-Owned Medical Groups primarily based on a fixed percentage of net collections on patient care generated by those medical groups.

Value Based Care (“VBC”) revenue is generated through per member per month Care management fee (“PMPM”) payments, from payers to provide care coordination services to patients and through shared savings contracts with large commercial payer organizations and the U.S. Federal Government.

Contract Asset

The Company has the following contract assets and unearned revenue:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Balances for contracts with customers
Accounts receivable	$	126,872	$	99,118
Unearned revenue	$	4,606	$	2,759

Unearned Revenue

Unearned revenue is presented on the condensed consolidated balance sheet under other current liabilities and represent payments made to, or due from, customers in advance of our performance. All contracts are less than or equal to twelve months. Changes in the balance of total deferred revenue during the six months ended June 30, 2021 are as follows:


(Dollars in Thousands)	December 31, 2020		Additions	Revenue Recognized	June 30, 2021
Unearned revenue	$	2,759	2,724	(877)	$	4,606

During the three and six months ended June 30, 2021, the Company recognized approximately $0.5 million and $0.9 million, respectively, of revenue related to amounts unearned as of December 31, 2020.

Remaining Performance Obligations As our performance obligations relate to contracts with a duration of one year or less, the Company elected the optional exemption in ASC 606-10-50-14(a). Therefore, the Company is not required to disclose the transaction price for the remaining performance obligations at the end of the reporting period or when the Company expects to recognize revenue. The Company has minimal unsatisfied performance obligations at the end of the reporting period as our patients typically are under no obligation to continue receiving services at our facilities.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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-Name Accounting Standards Codification
-Topic 606
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+ Details

Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

For the purposes of the goodwill impairment assessment, the Company as a whole is considered to be the reporting unit. The fair value of the reporting unit is estimated using a combination of three approaches, all equally weighted: a) discounted cash flow analysis (income approach), b) fair value of comparable transactions (transaction approach) and c) enterprise value to revenue multiple for comparable companies (market approach). Potential impairment is indicated when the carrying value of a reporting unit exceeds its estimated fair value. The Company’s carrying value of goodwill at June 30, 2021 and December 31, 2020 is approximately $118.7 million. The most recently completed annual impairment test of goodwill was performed as of October 1, 2020 and the fair value of the reporting unit exceeded the carrying value and therefore it was determined that no impairment existed. No indicators of impairment were identified during the six months ended June 30, 2021 and 2020.

A summary of the Company’s intangible assets is as follows:


	June 30, 2021				December 31, 2020
(Dollars in thousands)	Intangible Assets		Accumulated Amortization		Intangible Assets		Accumulated Amortization
Trade names	$	4,600	$	1,571	$	4,600	$	1,457
Consumer customer relationships	$	2,500	$	1,708	$	2,500	$	1,583
PMG customer relationships	$	600	$	171	$	600	$	158
Management Service Agreement (Complete MD)	$	2,200	$	791	$	2,200	$	722
	$	9,900	$	4,241	$	9,900	$	3,920
Less accumulated amortization	$	(4,241)			$	(3,920)
Intangible assets, net	$	5,659			$	5,980

The remaining weighted average life of all amortizable intangible assets is approximately 10.3 years at June 30, 2021.

Amortization expense for intangible assets was approximately $0.2 million for both the three months ended June 30, 2021 and 2020, respectively, and $0.3 million for both the six months ended June 30, 2021 and 2020, respectively.

Estimated amortization expense for the Company’s intangible assets for the following five years is as follows:


	(Dollars in Thousands)
Remainder of 2021	$	321
2022	643
2023	643
2024	559
2025	393
Thereafter	3,100
Total	$	5,659

Leases

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

The Company leases office space under various operating lease agreements. The initial terms of these leases range from 2 to 7 years and generally provide for periodic rent increases and renewal options.

The components of lease expense were as follows (in thousands):


(Dollars in Thousands)	For the Three Months Ended June 30, 2021		For the Six Months Ended June 30, 2021
Operating lease cost	$	485	$	931

Cash paid for amounts included in the measurement of lease liabilities - operating leases			$	1,250
Weighted-average remaining lease term - operating leases			5.06 Years
Weighted-average discount rate - operating leases			3.5		%

The aggregate future lease payments for operating leases in the years subsequent to June 30, 2021 are as follows:


(Dollars in Thousands)
Remainder of 2021	$	1,087
2022	2,213
2023	2,261
2024	2,274
2025	2,237
Thereafter	1,407
Total future lease payments	11,479
Imputed interest	(992)
Total	$	10,487

Property and Equipment, Net

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

A summary of the Company’s property and equipment, net is as follows:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Furniture and fixtures	$	1,073	$	1,073
Computer equipment	1,286		1,051
Leasehold improvements	4,827		4,863
	7,186		6,987
Less accumulated depreciation and amortization	(2,737)		(2,173)
Property and equipment, net	$	4,449	$	4,814

Accrued Expenses

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Accrued employee compensation and benefits	$	6,560	$	6,167
Bonuses payable	5,032		10,418
Other accrued expenses	12,318		14,600
Total accrued expenses	$	23,910	$	31,185

Note Payable

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Note Payable

The Company’s note payable consists of the following:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Note payable	$	33,688	$	34,125
Less debt issuance costs	(482)		(466)
Less current portion	(1,313)		(875)
Note payable, net	$	31,893	$	32,784

On November 15, 2019, the Company entered into a Credit Agreement with a third-party financial institution. The debt agreement provides for up to $35.0 million in term loans that mature on November 15, 2024 with interest payable monthly at the lesser of LIBOR plus 2.0% or ABR plus 1.0% payable monthly (3.0% at June 30, 2021), plus up to an additional $10.0 million of financing in the form of a revolving loan. The revolving loan also includes a letter of credit sub-facility in the aggregate availability amount of $2.0 million and a swingline sub-facility in the aggregate availability amount of $2.0 million. The Company borrowed $35.0 million in term loans on November 15, 2019.

During March 2020, the Company borrowed $10.0 million against the revolving loan, which bears interest at the lesser of LIBOR + 2.5% or ABR + 1.5% payable monthly and matures November 15, 2024. These borrowings were repaid in 2020 with $5.0 million repaid in July 2020 and $5.0 million repaid in September 2020. On July 17, 2020, the Company increased its capacity under the revolving loan to $15.0 million. As of June 30, 2021 and December 31, 2020 there were no amounts outstanding under the revolving loan.

Interest expense relating to the note payable and revolving loan was approximately $0.3 million and $0.5 million for the three months ended June 30, 2021 and 2020, respectively, and $0.6 million and $1.0 million for the six months ended June 30, 2021, and 2020, respectively.

Debt issuance costs relating to the term loans of approximately $0.5 million have been capitalized and are being amortized over the life of the loan using the effective interest method. Amortization expense of approximately $0.1 million was recorded for both the six months ended June 30, 2021 and 2020, respectively, and a de minimis amount for both the three months ended June 30, 2021 and 2020, respectively.

Substantially all of the Company’s real and personal property serve as collateral under the above debt arrangements. The Credit Agreement requires the Company to maintain (i) a consolidated fixed charge coverage ratio not less than 1.25 to 1.0, and (ii) a consolidated leverage ratio of no more than 3.5 to 1.0 on June 30, 2021 and December 31, 2020, and 3.0 to 1.0 thereafter.

Annual aggregate principal payments applicable to long-term debt for years subsequent to June 30, 2021 are as follows:


(Dollars in Thousands)
Remainder of 2021	$	438
2022	1,750
2023	2,625
2024	28,875
2025	—
Total	$	33,688

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 470
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-Name Accounting Standards Codification
-Topic 470
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-Subparagraph (h)
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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded an income tax (benefit) of $20.0 million and provision of $0.5 million for the three months ended June 30, 2021 and 2020, respectively, and a income tax (benefit) of $18.0 million and provision of $1.2 million for the six months ended June 30, 2021 and 2020, respectively. This represents an estimated annual effective tax rate of 9.7% and 11.1% as of June 30, 2021 and 2020, respectively. The effective tax rate for the three and six month periods ended June 30, 2021 was lower than the statutory rate due to the effect on the pre-tax loss of the non-deductible stock-based compensation expense related to the Company’s IPO. The effective tax rate for the three and six month periods ended June 30, 2020 was lower than the statutory rate due to the recognition of previously valued deferred tax assets offset by amortization expense associated with an indefinite lived intangible asset for tax purposes.We consider both positive and negative evidence when evaluating the recoverability of our DTAs. The assessment is required to determine whether, based on all available evidence, it is more likely than not (i.e., greater than a 50% probability) that all or some portion of the DTAs will be realized in the future. As of June 30, 2020, the weight of all available positive evidence was not greater than the weight of all negative evidence and the valuation allowance remained against the deferred tax asset balance. As of June 30, 2021, there is no longer a valuation allowance against the deferred tax asset balance due to positive evidence outweighing the negative evidence

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Stockholders’ Equity

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Stockholders’ Equity

Anthem Private Placement

On May 3, 2021, concurrent with the closing of its IPO, the Company issued and sold, 4,000,000 shares of common stock, par value $0.01 per share, of the Company for an aggregate purchase price of $92 million (the “Private Placement”), or $23.00 per share, in a private placement to an affiliate of Anthem. As of May 3, 2021, Anthem holds approximately 3.9% of the issued and outstanding common stock of the Company. The securities issued to the Investor in the Private Placement were issued pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933.

Stock option plan

The PH Group Holdings Corp. Stock Option Plan (the PH Group Option Plan) was created on January 17, 2014. The employees of the Company and its subsidiaries, consultants of the Company and the employees of Brighton Health Plan Services Holdings Corp. (BHPS) (a wholly-owned subsidiary of BHG Holdings) and its subsidiaries who have performed services for the Company were the participants of the PH Group Option Plan. The aggregate number of shares of common stock for which options may be granted under the PH Group Option Plan shall not exceed 4,229,850 shares.

Effective August 11, 2016, the PH Group Option Plan was transferred to its parent and became the PH Group Parent Corp. Stock Option Plan (the “PH Parent Option Plan” or “Prior Plan”). All other terms in the PH Group Option Plan remained unchanged in the PH Parent Option Plan at the effective date of the transfer.

Effective August 28, 2018, the PH Parent Option Plan was amended and restated to increase the aggregate number of shares of common stock for which options may be granted from 4,229,850 shares to 18,985,846 shares.

On April 1, 2021, contingent on the consummation of the IPO, the Board of Directors approved a modification to the PH Group Parent Corp. Stock Option Plan of the vesting conditions of certain outstanding stock option grants to certain employees and consultants. The modification accelerated by one year any time vested option that were not previously 100% vested and modified the vesting condition of the performance based options to vest 60% at IPO, 20% 12 months after IPO and 20% 18 months after the IPO. The modification also accelerated the CEO’s time based options by an additional four months such that 100% of his time based options are vested. We recognized stock-based compensation of $195.1 million in the second quarter of 2021 related to these modifications and we expect to recognize an additional $89.9 million of additional stock compensation expense over the eighteen months following the completion of the IPO.

2021 Omnibus Incentive Plan

On April 6, 2021, the Company approved the Privia Health Group, Inc. 2021 Omnibus Incentive Plan (the “Plan”) which permits awards up to 10,278,581 shares of the Company’s common stock. The Plan also allows for an automatic increase on the first day of each fiscal year following the effective date of the Plan by an amount equal to the lesser of (i) 5% of outstanding shares on December 31 of the immediately preceding fiscal year or (ii) such number of shares as determined by the Company’s Compensation Committee in its discretion. The Plan provides for the granting of stock options at a price equal to at least 100% of the fair market value of the Company’s common stock as of the date of grant. The Plan also provides for the granting of Stock Appreciation Rights, Restricted Stock, Restricted Stock Units (“RSU’s”), Performance Awards and other cash-based or other stock-based awards, all which must be granted at not less than the fair market value of the Company’s common stock as of the date of grant. Participants in the Plan may include employees, consultants, other service providers and non-employee directors. On the effective date of the IPO, the Company issued 1,183,871 restricted stock units at the offering price and 3,683,217 options, with an exercise price equal to the offering price. These issuances are expected to generate stock-based compensation expense of $62.3 million to be recognized over the next four years starting on the effective date of the IPO as both the restricted stock units and stock options vest. The 2021 Plan is intended as the successor to and continuation of the PH Parent Option Plan. No additional stock awards will be granted under the Prior Plan.

2021 Employee Stock Purchase Plan

In April 2021, the Company’s Board of Directors approved the Company’s 2021 Employee Stock Purchase Plan (“2021 ESPP”). The 2021 ESPP became effective upon the execution of the underwriting agreement for the Company’s IPO in April 2021. Per the Plan, shares may be newly issued shares, treasury shares or shares acquired on the open market. The Compensation Committee may elect to increase the total number of Shares available for purchase under the Plan as of the first day of each Company fiscal year following the Effective Date in an amount equal to up to one percent (1%) of the shares issued and outstanding on the immediately preceding December 31; provided that the maximum number of shares that may be issued under the Plan in any event shall be 10,278,581 shares. As of the IPO, the Company has reserved 1,027,858 shares of common stock for issuance under the 2021 ESPP.

Stock option activity

The following table summarizes stock option activity under the Prior Plan and Plan:


	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Grant-Date Fair Value	Weighted- Average Remaining Contractual Life
Balance at December 31, 2020	18,300,959	2.01		0.34	7.82
Granted	3,683,217	23.00		9.51
Exercised	(16,601)	2.00		0.32
Forfeited	(102,454)	2.32		0.53
Balance at June 30, 2021	21,865,121	$	5.55	1.88	7.74
Exercisable at June 30, 2021	12,218,540	$	2.18	0.43	7.56

RSU Activity

The following table summarizes the RSU activity under the 2021 Plan:


	Number of Shares	Grant Date Fair Value
Unvested and outstanding at December 31, 2020	—	—
Granted	1,187,815	$	23.07
Vested	(13,044)	$	23.00
Forfeited	(236)	$	23.00
Unvested and outstanding at June 30, 2021	1,174,535	$	23.07

Stock-based compensation expense

Total stock-based compensation expense for the three months ended June 30, 2021 and 2020, was approximately $202.6 million and $0.1 million, respectively, and $202.7 million and $0.2 million for the six months ended June 30, 2021 and 2020, respectively. At June 30, 2021, there was approximately $144.8 million of unrecognized stock-based compensation expense related to unvested options and RSUs, net of forfeitures, that is expected to be recognized over a weighted-average period of 1.1 years.

Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Dollars in Thousands)	2021		2020		2021		2020
Cost of platform	$	36,040	$	—	$	36,040	$	—
Sales and marketing	7,694		—		7,694		—
General and administrative	158,826		121		158,926		242
Total stock-based compensation	$	202,560	$	121	$	202,660	$	242

Related-Party Transactions	6 Months Ended
Related-Party Transactions	Jun. 30, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions On October 31, 2020, $4.0 million of related party receivables was used to repay $4.0 million of the Notes payable to related parties, leaving $4.7 million of Notes payable to related parties. The Company paid interest of $0.2 million through October 31, 2020. In addition, on December 22, 2020, the remaining $4.7 million of Notes payable to related parties were converted to a capital contribution, leaving no remaining Notes payable to related parties outstanding as of December 31, 2020.

Commitment and Contingencies	6 Months Ended
Commitment and Contingencies	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies There are no material commitments and contingencies as of June 30, 2021.

Concentrations of Credit Risk	6 Months Ended
Concentrations of Credit Risk	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	Concentrations of Credit Risk Our financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable. While our cash and cash equivalents are managed by reputable financial institutions, the Company’s cash balances with the individual institutions may at times exceed the federally insured limits. At June 30, 2021, substantially all of the Company’s cash and cash equivalents were held at two financial institutions. The Company believes these financial institutions are financially sound and that minimal credit risk exists. The Company receives payment for medical services provided to patients by its physicians through contracts with payers. Six payers within the network accounted for approximately 74% and 81% of such payments for the three month periods ended June 30, 2021 and 2020, respectively, and 74% and 81% for the six month periods ended June 30, 2021 and 2020, respectively. The Company evaluates accounts receivable to determine if they will ultimately be collected. In performing this evaluation, significant judgments and estimates are involved, such as past experience, credit quality, age of the receivable balance and current economic conditions that may affect ability to pay. As of June 30, 2021 and December 31, 2020, the Company had six payers within the network that made up approximately 71% and 70% of accounts receivable, respectively.

Net (Loss) Income Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net (Loss) Income Per Share

A reconciliation of net (loss) income available to common shareholders and the number of shares in the calculation of basic and diluted earnings (loss) income per share was calculated as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(in thousands, except for share and per share amounts)	2021		2020		2021		2020
Net (loss) income attributable to Privia Health Group, Inc. common stockholders	$	(172,534)	$	5,281	$	(167,136)	$	10,695
Weighted average common shares outstanding - basic and diluted	102,739,033		95,931,549		99,381,053		95,931,549


Earnings per share attributable to Privia Health Group, Inc. common stockholders – basic and diluted	$	(1.68)	$	0.06	$	(1.68)	$	0.11

The treasury stock method is used to consider the effect of the potentially dilutive stock options. The following weighted-average outstanding shares of potentially dilutive securities were excluded from computation of diluted loss per share attributable to common shareholders for the period presented because including them would have been antidilutive:


	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2021	2020	2021	2020
Potentially dilutive stock options and RSUs to purchase common shares	20,631,283	17,749,804	20,670,308	17,774,841
Total potentially dilutive shares	20,631,283	17,749,804	20,670,308	17,774,841

Segment Financial Information	6 Months Ended
Segment Financial Information	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Financial Information	Segment Financial Information The Company determined in accordance with ASC Topic 280, Segment Reporting (“ASC 280”), that the Company operates in and reports as a single operating segment, which is to care for its patients’ needs. Operating segments are identified as components of an enterprise where separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”), or decision-making group, who reviews financial operating results on a regular basis for the purpose of allocating resources and evaluating financial performance. The Company defines its CODM as its Chief Executive Officer, who regularly reviews financial operating results on a consolidated basis for purposes of allocating resources and evaluating financial performance. Although the Company derives its revenues from a number of different geographic regions, the Company neither allocates resources based on the operating results from the individual regions, nor manages each individual region as a separate business unit. The Company’s CODM manages the operations on a consolidated basis to make decisions about overall corporate resource allocation and to assess overall corporate profitability. As of June 30, 2021 and 2020, all of the Company’s long-lived assets were located in the United States and all revenue was earned in the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its subsidiaries. Amounts shown on the condensed consolidated statements of operations within the operating expense categories of physician and practice expense, cost of platform, selling and marketing, and general and administrative are recorded exclusive of depreciation and amortization.
Consolidation	All significant intercompany transactions are eliminated in consolidation.
Variable Interest Entities	Variable Interest Entities Management evaluates the Company’s ownership, contractual, and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”). These evaluations are complex, involve judgment, and the use of estimates and assumptions based on available historical information, among other factors. Privia Physicians join the medical group in their geographic market as an owner of such medical group. Certain of our medical groups are majority-owned by the Company (each, an “Owned Medical Group”), with Privia Physicians owning a minority interest, and some medical groups are owned entirely by Privia Physicians (each, a “Non-Owned Medical Group”). The Company evaluated its relationship with Non-Owned Medical Groups and their historic practice entities (the “Affiliated Practices”) as well as its relationship with Affiliated Practices associated with Owned Medical Groups to determine if any of these entities should be subject to consolidation. The Company does not have ownership interest in any Affiliated Practices; nor does the Company have an ownership in Non-Owned Medical Groups. The Physician Member Services Agreement (“PMSA”) and Support Services Agreement (“SSA”) entered by Non-Owned Medical Groups with their Privia Physician members and the Affiliated Practices are not contractual relationships within Privia’s legal structure. The only contractual relationship between Privia and Non-Owned Medical Groups is established through the MSA. Management has determined, based on the provisions of the MSAs between the Company and Non-Owned Medical Groups, and after considering the requirements of Accounting Standards Codification (“ASC”) Topic 810, Consolidation (“ASC 810”), the Company is not required to consolidate the financial position or results of operations of the Affiliated Practices associated with Owned Medical Groups; nor is it required to consolidate the financial position or results of operations of Non-Owned Medical Groups (and, therefore, the Company is not required to consolidate the Affiliated Practices of the Non-Owned Medical Groups). Based on the Company’s evaluations, Non-Owned Medical Groups do not represent VIEs. Accordingly, the Company has not consolidated the financial position, results of operations or cash flows of the Non-Owned Medical Groups that are affiliated with the Company by means of a SSA for the six months ended June 30, 2021 and 2020. Each time the Company enters into a new service agreement or enters into a material amendment to an existing service agreement, the Company considers whether the terms of that agreement or amendment would change the elements it considers in accordance with the VIE guidance. The same analysis was performed for the Affiliated Practices of Owned Medical Groups, which have contractual relationships with Privia through SSAs, and the Company determined they do not represent VIEs as they do not meet the criteria in ASC 810.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure. On an on-going basis we evaluate significant estimates and assumptions, including, but not limited to, revenue recognition, stock-based compensation, estimated useful lives of assets, intangible assets subject to amortization, and the computation of income taxes. Future events and their effects cannot be predicted with certainty; accordingly, the Company’s accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the financial statements will change as new events occur, as more experience is acquired, as additional information is obtained, and as the Company’s operating environment changes. Management evaluates and updates assumptions and estimates on an ongoing basis. Actual results may differ from these estimates under different assumptions or conditions.
Operating Segments	Operating Segments The Company determined in accordance with ASC 280, Segment Reporting (“ASC 280”) that the Company operates in and reports as a single operating segment, and therefore one reporting segment – Privia Health Group, Inc. Refer to Note 14 “Segment Financial Information” for additional information concerning the Company’s services.
Non-Controlling Interest	Non-Controlling Interest The non-controlling interest represents the equity interest of the non-controlling equity holders in results of operations of Complete MD Solutions LLC, Privia Management Services Organization (“PMSO”) and our Owned Medical Groups. The condensed consolidated financial statements include all assets, liabilities, revenues, and expenses of less-than-100%-owned affiliates where the Company has a controlling financial interest. The Company has separately reflected net income attributable to the non-controlling interests in net income in the condensed consolidated statements of operations.
Leases	Leases Beginning January 1, 2021, the Company accounts for its leases in accordance with ASU 2016-2, Leases (Topic 842). The Company evaluates whether a contract is or contains a lease at the inception of the contract. Upon lease commencement, which is defined as the date on which a lessor makes the underlying asset available to the Company for use, the Company classifies the lease as either an operating or finance lease. The Company’s leases primarily consist of operating leases for office space in certain states in which we operate. The Company also has operating leases for equipment, which are not significant. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease liabilities are measured at the present value of the remaining, fixed lease payments at lease commencement. The Company uses its incremental borrowing rate, adjusted for the effects of collateralization, based on the information available at the later of adoption, inception, or modification in determining the present value of lease payments. Right-of-use assets are measured at an amount equal to the initial lease liability, plus any prepaid lease payments (less any incentives received) and initial direct costs, at the lease commencement date. The Company has elected to account for lease and non-lease components as a single lease component for its facility leases. As a result, the fixed payments that would otherwise be allocated to the non-lease components are accounted for as lease payments and are included in the measurement of the Company’s right-of-use asset and lease liability. Lease expense for lease payments is recognized on a straight-line basis over the lease term in general and administrative expense on the condensed consolidated statements of operations. The Company does not recognize a lease liability or right-of-use asset on the balance sheet for short-term leases. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. When determining whether a lease qualifies as a short-term lease, the Company evaluates the lease term and the purchase option in the same manner as all other leases.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Pending Adoption	Recently Adopted Accounting Pronouncements The Company adopted Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), as of January 1, 2021 using the modified retrospective transition approach for leases which existed on that date. Prior comparative periods were not adjusted and continue to be reported in accordance with Accounting Standards Codification (“ASC”) Topic 840, Leases. The Company elected the package of practical expedients that permitted the Company not to reassess the Company’s prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight practical expedient. The adoption of the standard resulted in the recognition of operating right-of-use assets of approximately $6.0 million and operating lease liabilities of approximately $11.3 million. Refer to Note 4 “Leases” for additional details. The difference between the operating lease right-of-use assets and operating lease liabilities resulted from the reclassification of deferred rent. Adoption of the standard did not have a material impact on the consolidated statements of operations or cash flows for the three months and six months ended June 30, 2021. The Company did not recognize a cumulative-effect adjustment to retained earnings upon adoption. On January 1, 2021, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“CECL”), which replaces the incurred loss approach for recognizing credit losses on financial instruments with an expected loss approach. The expected loss approach is subject to management judgments using assessments of incurred credit losses, assessments of current conditions, and forecasts using reasonable and supportable assumptions. The Company adopted the standard using a modified retrospective approach which resulted in no adjustments to the allowance for credit losses and no cumulative-effect adjustment to retained earnings. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors, including historical losses adjusted for current market conditions, the Company's customers' financial condition, delinquency trends, aging behaviors of receivables and credit and liquidity indicators for industry groups, and future market and economic conditions. As of June 30, 2021, the allowance for credit losses was not material. Recently Issued Accounting Pronouncements Pending Adoption In March 2020, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12). ASU 2019-12 eliminates certain exceptions related to the approach for intra period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This guidance is effective for the Company for the year ending December 31, 2022. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2019-12 on its condensed consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides temporary relief from some of the existing rules governing contract modifications when the modification is related to the replacement of the London Interbank Offered Rate (“LIBOR”) or other reference rates discontinued as a result of reference rate reform. The ASU specifically provides optional practical expedients for contract modification accounting related to contracts subject to ASC 310, Receivables, ASC 470, Debt, ASC 842, Leases, and ASC 815, Derivatives and Hedging. The ASU also establishes a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and certain elective hedge accounting expedients. For eligible contract modifications, the principle generally allows an entity to account for and present modifications as an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. That is, the modified contract is accounted for as a continuation of the existing contract. The standard was effective upon issuance on March 12, 2020, and the optional practical expedients can generally be applied to contract modifications made and hedging relationships entered into on or before December 31, 2022. Borrowings under the Company’s note payable agreement bear interest based on LIBOR or an alternate rate. Provisions currently provide the Company with the ability to replace LIBOR with a different reference rate in the event that LIBOR ceases to exist.

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents our revenues disaggregated by source:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Dollars in Thousands)	2021		2020		2021		2020
FFS-patient care	$	180,821	$	131,324	$	350,398	$	306,194
FFS-administrative services	15,345		13,619		30,756		28,174
Shared savings	18,879		17,097		36,712		33,536
Care management fees (PMPM)	9,374		7,066		17,945		13,296
Other revenue	1,337		14,158		3,552		15,006
Total Revenue	$	225,756	$	183,264	$	439,363	$	396,206

The following table presents the approximate percentages by source of net operating revenue received for healthcare services we provided for the periods indicated:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Commercial insurers	67	%	68	%	68	%	68	%
Government payers	17	%	16	%	16	%	15	%
Patient	16	%	16	%	16	%	17	%
	100	%	100	%	100	%	100	%

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The Company has the following contract assets and unearned revenue:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Balances for contracts with customers
Accounts receivable	$	126,872	$	99,118
Unearned revenue	$	4,606	$	2,759

Changes in the balance of total deferred revenue during the six months ended June 30, 2021 are as follows:


(Dollars in Thousands)	December 31, 2020		Additions	Revenue Recognized	June 30, 2021
Unearned revenue	$	2,759	2,724	(877)	$	4,606

Goodwill and Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

A summary of the Company’s intangible assets is as follows:


	June 30, 2021				December 31, 2020
(Dollars in thousands)	Intangible Assets		Accumulated Amortization		Intangible Assets		Accumulated Amortization
Trade names	$	4,600	$	1,571	$	4,600	$	1,457
Consumer customer relationships	$	2,500	$	1,708	$	2,500	$	1,583
PMG customer relationships	$	600	$	171	$	600	$	158
Management Service Agreement (Complete MD)	$	2,200	$	791	$	2,200	$	722
	$	9,900	$	4,241	$	9,900	$	3,920
Less accumulated amortization	$	(4,241)			$	(3,920)
Intangible assets, net	$	5,659			$	5,980

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the Company’s intangible assets for the following five years is as follows:


	(Dollars in Thousands)
Remainder of 2021	$	321
2022	643
2023	643
2024	559
2025	393
Thereafter	3,100
Total	$	5,659

Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows (in thousands):


(Dollars in Thousands)	For the Three Months Ended June 30, 2021		For the Six Months Ended June 30, 2021
Operating lease cost	$	485	$	931

Cash paid for amounts included in the measurement of lease liabilities - operating leases			$	1,250
Weighted-average remaining lease term - operating leases			5.06 Years
Weighted-average discount rate - operating leases			3.5		%

Summary of Operating Lease Future Payments

The aggregate future lease payments for operating leases in the years subsequent to June 30, 2021 are as follows:


(Dollars in Thousands)
Remainder of 2021	$	1,087
2022	2,213
2023	2,261
2024	2,274
2025	2,237
Thereafter	1,407
Total future lease payments	11,479
Imputed interest	(992)
Total	$	10,487

Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

A summary of the Company’s property and equipment, net is as follows:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Furniture and fixtures	$	1,073	$	1,073
Computer equipment	1,286		1,051
Leasehold improvements	4,827		4,863
	7,186		6,987
Less accumulated depreciation and amortization	(2,737)		(2,173)
Property and equipment, net	$	4,449	$	4,814

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued expenses consisted of the following:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Accrued employee compensation and benefits	$	6,560	$	6,167
Bonuses payable	5,032		10,418
Other accrued expenses	12,318		14,600
Total accrued expenses	$	23,910	$	31,185

Note Payable (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s note payable consists of the following:


(Dollars in Thousands)	June 30, 2021		December 31, 2020
Note payable	$	33,688	$	34,125
Less debt issuance costs	(482)		(466)
Less current portion	(1,313)		(875)
Note payable, net	$	31,893	$	32,784

Schedule of Maturities of Long-term Debt

Annual aggregate principal payments applicable to long-term debt for years subsequent to June 30, 2021 are as follows:


(Dollars in Thousands)
Remainder of 2021	$	438
2022	1,750
2023	2,625
2024	28,875
2025	—
Total	$	33,688

Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of Stock Option, Activity

The following table summarizes stock option activity under the Prior Plan and Plan:


	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Grant-Date Fair Value	Weighted- Average Remaining Contractual Life
Balance at December 31, 2020	18,300,959	2.01		0.34	7.82
Granted	3,683,217	23.00		9.51
Exercised	(16,601)	2.00		0.32
Forfeited	(102,454)	2.32		0.53
Balance at June 30, 2021	21,865,121	$	5.55	1.88	7.74
Exercisable at June 30, 2021	12,218,540	$	2.18	0.43	7.56

Schedule of Restricted Stock Unit, Activity

The following table summarizes the RSU activity under the 2021 Plan:


	Number of Shares	Grant Date Fair Value
Unvested and outstanding at December 31, 2020	—	—
Granted	1,187,815	$	23.07
Vested	(13,044)	$	23.00
Forfeited	(236)	$	23.00
Unvested and outstanding at June 30, 2021	1,174,535	$	23.07

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(Dollars in Thousands)	2021		2020		2021		2020
Cost of platform	$	36,040	$	—	$	36,040	$	—
Sales and marketing	7,694		—		7,694		—
General and administrative	158,826		121		158,926		242
Total stock-based compensation	$	202,560	$	121	$	202,660	$	242

Net (Loss) Income Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of net (loss) income available to common shareholders and the number of shares in the calculation of basic and diluted earnings (loss) income per share was calculated as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(in thousands, except for share and per share amounts)	2021		2020		2021		2020
Net (loss) income attributable to Privia Health Group, Inc. common stockholders	$	(172,534)	$	5,281	$	(167,136)	$	10,695
Weighted average common shares outstanding - basic and diluted	102,739,033		95,931,549		99,381,053		95,931,549


Earnings per share attributable to Privia Health Group, Inc. common stockholders – basic and diluted	$	(1.68)	$	0.06	$	(1.68)	$	0.11

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following weighted-average outstanding shares of potentially dilutive securities were excluded from computation of diluted loss per share attributable to common shareholders for the period presented because including them would have been antidilutive:


	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2021	2020	2021	2020
Potentially dilutive stock options and RSUs to purchase common shares	20,631,283	17,749,804	20,670,308	17,774,841
Total potentially dilutive shares	20,631,283	17,749,804	20,670,308	17,774,841

Organization and Summary of Significant Accounting Policies (Details)			3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($) market $ / shares	May 03, 2021 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) company segment $ / shares	Jun. 30, 2020 USD ($)	Jan. 01, 2021 USD ($)	Dec. 31, 2020 USD ($) $ / shares
Subsidiary, Sale of Stock [Line Items]
Number of markets in which entity operates \| market	6
MSO, ownership percentage					100.00%
Number of MSOs where the company is at least the majority owner \| company					2
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01	$ 0.01		$ 0.01			$ 0.01
Price per share (in dollars per share) \| $ / shares		$ 23.00
Number of operating segments \| segment					1
Number of reportable segments \| segment					1
Social security taxes repayment deferral period					2 years
Social Security tax repayment percent, remainder of fiscal year					50.00%
Social Security tax repayment percent, year one					50.00%
Social Security taxes payable	$ 1,600,000		$ 1,600,000		$ 1,600,000
Grants received			0	$ 13,300,000	0	$ 13,300,000
Right-of-use asset	5,618,000		5,618,000		5,618,000			$ 0
Operating lease liability	$ 10,487,000		$ 10,487,000		$ 10,487,000
ASU 2016-02
Subsidiary, Sale of Stock [Line Items]
Right-of-use asset							$ 6,000,000.0
Operating lease liability							$ 11,300,000
IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction \| shares		22,425,000
Price per share (in dollars per share) \| $ / shares		$ 23.00
Private Placement
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction \| shares		4,000,000
Consideration received on transaction		$ 92,000,000
Initial Public Offering And Anthem Private Placement
Subsidiary, Sale of Stock [Line Items]
Proceeds from sale of stock, gross		223,700,000
Consideration received on transaction		$ 211,000,000.0

Revenue Recognition - Schedule of Revenue Desegregation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 225,756	$ 183,264	$ 439,363	$ 396,206
FFS-patient care
Disaggregation of Revenue [Line Items]
Revenue	180,821	131,324	350,398	306,194
FFS-administrative services
Disaggregation of Revenue [Line Items]
Revenue	15,345	13,619	30,756	28,174
Shared savings
Disaggregation of Revenue [Line Items]
Revenue	18,879	17,097	36,712	33,536
Care management fees (PMPM)
Disaggregation of Revenue [Line Items]
Revenue	9,374	7,066	17,945	13,296
Other revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,337	$ 14,158	$ 3,552	$ 15,006

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
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-Section 50
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-Section 50
-Paragraph 30
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 22
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-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue Recognition - Percentages By Source of Net Operating Revenue (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer Benchmark \| Commercial insurers
Concentration Risk [Line Items]
Concentration risk percentage	67.00%	68.00%	68.00%	68.00%
Revenue Benchmark
Concentration Risk [Line Items]
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Revenue Benchmark \| Commercial insurers
Concentration Risk [Line Items]
Concentration risk percentage				68.00%
Revenue Benchmark \| Government payers
Concentration Risk [Line Items]
Concentration risk percentage	17.00%	16.00%	16.00%	15.00%
Revenue Benchmark \| Government payers
Concentration Risk [Line Items]
Concentration risk percentage	16.00%	16.00%	16.00%	17.00%

Revenue Recognition - Schedule of Contract Assets and Unearned Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 126,872	$ 99,118
Unearned revenue	$ 4,606	$ 2,759

Revenue Recognition - Change In Balance Of Total Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Contract With Customer Liability [Roll Forward]
Beginning balance		$ 2,759
Additions		2,724
Revenue Recognized	$ (500)	(877)
Ending balance	$ 4,606	$ 4,606

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 500	$ 877

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 118,663		$ 118,663		$ 118,663
Amortization period			10 years 3 months 18 days
Intangible amortization expense	$ 200	$ 200	$ 320	$ 321

Goodwill and Intangible Assets, Net - Schedule Of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	$ 9,900	$ 9,900
Less accumulated amortization	(4,241)	(3,920)
Total	5,659	5,980
Trade names
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	4,600	4,600
Less accumulated amortization	(1,571)	(1,457)
Consumer customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	2,500	2,500
Less accumulated amortization	(1,708)	(1,583)
PMG customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	600	600
Less accumulated amortization	(171)	(158)
Management Service Agreement (Complete MD)
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross	2,200	2,200
Less accumulated amortization	$ (791)	$ (722)

Goodwill and Intangible Assets, Net - Schedule of Amortization Of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 321
2022	643
2023	643
2024	559
2025	393
Thereafter	3,100
Total	$ 5,659	$ 5,980

Leases - Narrative (Details) - Office space	Jun. 30, 2021
Minimum
Lessee, Lease, Description [Line Items]
Lease term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term	7 years

Leases - Components of Lease Expense (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)
Leases [Abstract]
Operating lease cost	$ 485	$ 931
Cash paid for amounts included in the measurement of lease liabilities - operating leases		$ 1,250
Weighted-average remaining lease term - operating leases	5 years 21 days	5 years 21 days
Weighted-average discount rate - operating leases	3.50%	3.50%

Leases - Schedule Of Future Lease Payment (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Leases [Abstract]
Remainder of 2021	$ 1,087
2022	2,213
2023	2,261
2024	2,274
2025	2,237
Thereafter	1,407
Total future lease payments	11,479
Imputed interest	(992)
Total	$ 10,487

Property and Equipment, Net - Schedule of Property Plant And Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 7,186	$ 6,987
Less accumulated depreciation and amortization	(2,737)	(2,173)
Property and equipment, net	4,449	4,814
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment gross	1,073	1,073
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment gross	1,286	1,051
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 4,827	$ 4,863

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued employee compensation and benefits	$ 6,560	$ 6,167
Bonuses payable	5,032	10,418
Other accrued expenses	12,318	14,600
Accrued expenses	$ 23,910	$ 31,185

Note Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Note payable	$ 33,688
Term loan
Debt Instrument [Line Items]
Note payable	33,688	$ 34,125
Less debt issuance costs	(482)	(466)
Less current portion	(1,313)	(875)
Note payable, net	$ 31,893	$ 32,784

Note Payable - Narrative (Details)		1 Months Ended			3 Months Ended		6 Months Ended
Note Payable - Narrative (Details)	Nov. 15, 2019 USD ($)	Sep. 30, 2020 USD ($)	Jul. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Jul. 17, 2020 USD ($)
Debt Instrument [Line Items]
Proceeds from revolving loan							$ 0	$ 10,000,000
Interest expense					$ (302,000)	$ (509,000)	(593,000)	(976,000)
Amortization of debt issuance costs					0	0	100,000	100,000
Interest expense					$ 300,000	$ 500,000	$ 600,000	$ 1,000,000.0
Line of Credit
Debt Instrument [Line Items]
Interest rate					3.00%		3.00%
Interest coverage ratio, minimum	1.25
Line of Credit \| On June 30, 2021 and December 31, 2020
Debt Instrument [Line Items]
Leverage ratio, maximum	3.5
Line of Credit \| After June 30, 2021
Debt Instrument [Line Items]
Leverage ratio, maximum	3.0
London Interbank Offered Rate (LIBOR) \| Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Base Rate \| Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Term loan
Debt Instrument [Line Items]
Debt issuance costs					$ 482,000		$ 482,000		$ 466,000
Term loan \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 35,000,000.0
Proceeds from issuance of long-term debt	35,000,000.0
Debt issuance costs					500,000		500,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000.0									$ 15,000,000.0
Proceeds from revolving loan				$ 10,000,000.0
Repayments of lines of credit		$ 5,000,000.0	$ 5,000,000.0
Line of credit outstanding					$ 0		$ 0		$ 0
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility \| Base Rate \| Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,000,000.0
Bridge Loan \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,000,000.0

Note Payable - Schedule of Maturity of Debt (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Debt Disclosure [Abstract]
Remainder of 2021	$ 438
2022	1,750
2023	2,625
2024	28,875
2025	0
Note payable	$ 33,688

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax (benefit) provision	$ (20,004)	$ 474	$ (18,004)	$ 1,174
Effective income tax rate			9.70%	11.10%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Stockholders’ Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended		6 Months Ended		18 Months Ended
	May 03, 2021	Apr. 06, 2021	Apr. 01, 2021	Apr. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2022	Dec. 31, 2020	Aug. 28, 2018	Jan. 27, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)	$ 0.01				$ 0.01		$ 0.01			$ 0.01
Price per share (in dollars per share)	$ 23.00
Common stock, shares authorized (in shares)					1,000,000,000		1,000,000,000			150,000,000
Number of instruments granted		1,183,871
Number of options granted							3,683,217
Unrecognized share-based compensation expense		$ 62,300			$ 144,800		$ 144,800
Period for recognition		4 years					1 year 1 month 6 days
Common stock, shares issued (in shares)					105,740,462		105,740,462			95,985,817
Share based payment expense					$ 202,560	$ 121	$ 202,660	$ 242
2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)		10,278,581
Award percentage increase		5.00%
Options grant price percent of fair market value of company stock price (at least)		100.00%
2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				10,278,581
Award percentage of total common stock issued and outstanding (up to)				1.00%
Common stock, shares issued (in shares)				1,027,858
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, percent			100.00%
At IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, percent			60.00%
12months after IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, percent			20.00%
Accelerated vesting, period			12 months
18 months after IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, percent			20.00%
Accelerated vesting, period			18 months
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized					4,229,850		4,229,850				18,985,846	4,229,850
Period of acceleration			1 year
Accelerated cost					$ 195,100
Options \| Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated cost									$ 89,900
Options \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of acceleration			4 months
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of instruments granted							1,187,815
Restricted Stock Units (RSUs) \| 2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted		3,683,217
Affiliate Of Anthem Inc (Investor) \| Affiliated Entity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership percent	3.90%
Private Placement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in transaction	4,000,000
Consideration received on transaction	$ 92,000

Stockholders’ Equity - Schedule of Options Activity (Details) - $ / shares			6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2021
Number of Shares
Beginning balance (in shares)			18,300,959
Granted (in shares)			3,683,217
Exercised (in shares)			(16,601)
Forfeited (in shares)			(102,454)
Ending balance (in shares)	21,865,121	18,300,959	21,865,121
Exercisable options (in shares)	12,218,540		12,218,540
Weighted- Average Exercise Price
Beginning balance (in dollars per share)			$ 2.01
Granted (in dollars per share)			23.00
Exercised (in dollars per share)			2.00
Forfeited (in dollars per share)			2.32
Ending balance (in dollars per share)	$ 5.55	$ 2.01	5.55
Weighted-Average Exercise Price, Exercisable options (in dollars per share)	2.18		2.18
Weighted- Average Grant-Date Fair Value
Beginning Balance (in dollars per share)	1.88	0.34	1.88
Granted (in dollars per share)			9.51
Exercised (in dollars per share)			0.32
Forfeited (in dollars per share)			0.53
Ending balance (in dollars per share)	1.88	$ 0.34	$ 1.88
Weighted-Average Grant-Date Fair Value, Exercisable options (in dollars per share)	$ 0.43
Weighted-Average Remaining Contractual Life	7 years 8 months 26 days	7 years 9 months 25 days
Weighted-Average Remaining Contractual Life, Exercisable options	7 years 6 months 21 days

Stockholders’ Equity - Schedule of Restricted Stock Unit Activity (Details) - $ / shares		6 Months Ended
	Apr. 06, 2021	Jun. 30, 2021
Number of Shares
Granted (in shares)	1,183,871
Restricted Stock Units (RSUs)
Number of Shares
Beginning balance (in shares)		0
Granted (in shares)		1,187,815
Vested (in shares)		(13,044)
Forfeited (in shares)		(236)
Ending balance (in shares)		1,174,535
Grant Date Fair Value
Beginning balance (in dollars per share)		$ 0
Granted (in dollars per share)		23.07
Vested (in dollars per share)		23.00
Forfeited (in dollars per share)		23.00
Ending balance (in dollars per share)		$ 23.07

Stockholders’ Equity - Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 202,560	$ 121	$ 202,660	$ 242
Cost of platform
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	36,040	0	36,040	0
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	7,694	0	7,694	0
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 158,826	$ 121	$ 158,926	$ 242

Related-Party Transactions (Details) - Affiliated Entity - USD ($) $ in Millions		10 Months Ended
	Oct. 31, 2020	Oct. 31, 2020	Dec. 22, 2020
Related Party Transaction [Line Items]
Due from related parties	$ 4.0	$ 4.0
Repayments of related party debt	4.0
Notes payable, related parties	$ 4.7	4.7	$ 4.7
Interest Paid
Related Party Transaction [Line Items]
Amount of transaction		$ 0.2

- Definition

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.10(3))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

+ Details

Concentrations of Credit Risk (Details) - institution			3 Months Ended		6 Months Ended
Concentrations of Credit Risk (Details) - institution	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Concentration Risk [Line Items]
Number of institutions in which company holds its cash and cash equivalents					2
Revenue Benchmark \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage			100.00%	100.00%	100.00%	100.00%
Revenue Benchmark \| Customer Concentration Risk \| Six Payers
Concentration Risk [Line Items]
Concentration risk percentage			74.00%	81.00%	74.00%	81.00%
Accounts Receivable \| Customer Concentration Risk \| Six Payers
Concentration Risk [Line Items]
Concentration risk percentage	71.00%	70.00%

Net (Loss) Income Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net (loss) income attributable to Privia Health Group, Inc. common stockholders	$ (172,534)	$ 5,281	$ (167,136)	$ 10,695
Weighted average common shares outstanding - basic (in shares)	102,739,033	95,931,549	99,381,053	95,931,549
Weighted average common shares outstanding – diluted (in shares)	102,739,033	95,931,549	99,381,053	95,931,549
Earnings per share attributable to Privia Health Group, Inc. common stockholders – basic (in dollars per share)	$ (1.68)	$ 0.06	$ (1.68)	$ 0.11
Earnings per share attributable to Privia Health Group, Inc. common stockholders – diluted (in dollars per share)	$ (1.68)	$ 0.06	$ (1.68)	$ 0.11

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
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-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Net (Loss) Income Per Share - Schedule Of Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Potentially dilutive stock options and RSUs to purchase common shares	20,631,283	17,749,804	20,670,308	17,774,841

Segment Financial Information (Details)	6 Months Ended
Segment Financial Information (Details)	Jun. 30, 2021 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1