U.S. Bank Launches New Initiative to Serve Small-to-Midsize Healthcare Practices and Practice Owners
September 14 2023 - 9:00AM
Business Wire
A specialized and comprehensive offering with banking, payments
and wealth management for healthcare practices with up to $25
million in annual revenue
U.S. Bank today announced a new cross-business initiative to
serve healthcare practices with up to $25 million in annual
revenue. Newly appointed Head of Healthcare Business Banking Joe
Persichetti will lead this effort, working with teams across
banking, payments, and wealth management to deliver a comprehensive
suite of solutions for healthcare clients.
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Joe Persichetti, Senior Vice President,
Head of Healthcare Business Banking (Photo: Business Wire)
U.S. Bank is adding more than 50 new positions across the
country to power the initiative, combining high-touch service with
healthcare expertise and tailored solutions. Each client will be
served by a specialized team led by a healthcare banker who can
bring them solutions and advice designed to strengthen their
practice, improve their patient payment experience, and help them
achieve their personal financial goals.
Clients will include medical, dental, and veterinary practices
and practice owners, as well as physician-owned medical and
diagnostic laboratories and outpatient care centers. U.S. Bank will
have healthcare business banking relationship managers located in
strategic markets across its footprint.
While banks have traditionally focused their healthcare services
on hospitals and large medical systems, more than 50% of
practitioners are in small to mid-size practices. These practices
need services that will simplify their finances and operations, so
their practitioners can spend more time on patients and less time
on administrative tasks.
"Our offering is powerful for healthcare clients,” said Dee
O’Dell, head of Business Banking Sales at U.S. Bank. “We’re
delivering a broad suite of business banking capabilities along
with compelling solutions to help providers accept payments,
streamline their operations, and improve their patient experience –
combined with wealth management expertise to help practitioners
achieve their personal financial goals. We’re thrilled to welcome
Joe Persichetti to lead this initiative. His deep background in
healthcare banking will help us to deliver the best possible
experience for our clients."
Persichetti brings almost 20 years of experience in the
healthcare field. He was most recently Head of Sales Practice
Finance at Huntington National Bank. Prior to that role, he held
senior positions at Henry Schein Financial Services and within Bank
of America’s practice solutions group. Joe is a board member of the
Dental Trade Alliance Foundation. He is based in Columbus,
Ohio.
“I am excited to be driving our new healthcare initiative at
U.S. Bank, working with leaders across banking, payments and wealth
management to deliver a holistic suite of products and services
specially designed for healthcare clients,” said Persichetti. “U.S.
Bank is well positioned to serve practice owners with
industry-leading digital tools as well as the personal touch of
specialized relationship managers. I believe it will be a winning
combination for our clients.”
This new healthcare initiative builds on the bank’s strong and
well-recognized history of service to clients in the healthcare
sector, including the expertise of the dedicated healthcare team in
its Corporate and Commercial Banking group. U.S. Bank has been in
the healthcare business for more than 100 years, delivering
innovative solutions to help clients of all types and sizes meet
their financial, operational, and investment goals – so they can
focus on their core mission of serving patients.
About U.S. Bancorp
U.S. Bancorp, with approximately 77,000 employees and $681
billion in assets as of June 30, 2023, is the parent company of
U.S. Bank National Association. The Minneapolis-based company
serves millions of customers locally, nationally and globally
through a diversified mix of businesses: Consumer and Business
Banking; Payment Services; Corporate & Commercial Banking; and
Wealth Management and Investment Services. Union Bank, consisting
primarily of retail banking branches on the West Coast, joined U.S.
Bancorp in 2022. U.S. Bancorp has been recognized for its approach
to digital innovation, social responsibility, and customer service,
including being named one of the 2023 World’s Most Ethical
Companies and Fortune’s most admired superregional bank. To learn
more, please visit the U.S. Bancorp website at usbank.com and click
on “About Us.”
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version on businesswire.com: https://www.businesswire.com/news/home/20230914203431/en/
Rick Rothacker, U.S. Bank Public Affairs & Communications
richard.rothacker@usbank.com
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