Former Microsoft executive joins one of nation’s leading health systems to help drive growth through innovation
July 25, 2017, Renton, WA—Providence St. Joseph Health, today announced the selection of Venkat Bhamidipati as executive vice president and Chief Financial Officer (CFO), effective July 31. Reporting to CEO Rod Hochman, MD, Bhamidipati will oversee finance, revenue diversification, accounting, tax and reimbursement, as well as real estate, supply chain, growth and revenue cycle. Bhamidipati previously served as managing director for business development and growth strategy at Microsoft.
Bhamidipati joins Providence St. Joseph Health at a time when technology and innovation are fundamentally changing how health care is delivered and the way patients interact with their caregivers. Providence St. Joseph Health has emerged as a leader in pioneering new technologies, fostering startups through investments and incubators, and integrating care in ways that address the underlying health needs of its communities to improve health outcomes. Bhamidipati’s focus will be to maintain the highest level of financial and compliance integrity for the AA-rated $21 billion health system, as well as to assist PSJH in making solid investments to ensure it continues as an outstanding and innovative health care provider.
“By selecting Venkat, we are making an intentional pivot for our organization that will support the intersection between technology and health care, ultimately leading to better patient care,” says Hochman. “With his depth of experience, Venkat will help guide us as we pursue innovative new offerings that will make our services more convenient and affordable while also generating new revenue streams to support our mission.”
Bhamidipati has spent the last 13 years at Microsoft, where he has held executive positions including CFO of operations and technology and CFO of the organization’s Worldwide Enterprise Group. Throughout his career, he has garnered a reputation for customer-centric decision-making and growth. For example, he was instrumental in strategically investing in cloud transformation that helped Microsoft accelerate growth while at the same time helping its customers become more productive. He also established a proven track record for balancing today’s needs while planning for and investing in the future.
“No sector of the American economy is more dynamic or integral to peoples’ lives as health care. And no single health care organization is more embracing of the role of technology in health than Providence St. Joseph Health,” says Bhamidipati. “I was attracted to Providence St. Joseph Health because of its mission and dedication to the physical, spiritual and social needs of its communities. I am also excited to use my experience at one of the world’s leading technology companies to help Providence accelerate health care innovation.”
Jo Ann Escasa-Haigh—who has served as interim CFO since last year—will transition to a new role as chief financial officer of operations, reporting to Mike Butler, president of operations. Jo Ann will have direct oversight for the health system’s team of regional, medical group and home health chief financial officers.
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About Providence St. Joseph Health
Providence St. Joseph Health is committed to improving the health of the communities it serves, especially those who are poor and vulnerable. With 50 hospitals, 829 physician clinics, senior services, supportive housing and many other health and educational services, the health system and its partners employ more than 111,000 caregivers (employees) serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. Formed in 2016, the Providence St. Joseph Health family includes the founding organizations, and in: Texas, Covenant Health and Covenant Medical Group; California, Facey Medical Group, Hoag Memorial Hospital Presbyterian and St. Joseph Heritage Healthcare; Washington, Kadlec Regional Medical Center, Pacific Medical Centers and Swedish Health Services.