Microsoft exec to become Providence St. Joseph CFO

Renton, Wash.-based Providence St. Joseph Health found its new CFO from the executive ranks at another large Washington company, Microsoft, hiring the tech giant’s managing director for business development and growth strategy, Venkat Bhamidipati.

“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,” Providence St. Joseph CEO Rod Hochman, MD, said in a statement. “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 had been at Microsoft for 13 years, starting as general manager of finance in its worldwide operations group in 2004. His resume doesn’t include any prior experience at hospitals or health systems.

Providence St. Joseph emphasized his tech experience in selecting him for the role, which it said will involve assisting the system in “making solid investments to ensure it continues as an outstanding and innovative health care provider.”

“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,” Bhamidipati said. “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.”

Bhamidipati will assume the CFO role for the 50-hospital system on July 31. Interim CFO Jo Ann Escasa-Haigh is set to transition to a new role as CFO of operations, overseeing financial officers at the regional, medical group and home health level within the company.