More Time For Patients, Less Time On Paperwork: How U.S. Bank Is Simplifying Finances For Healthcare Providers

U.S. Bancorp USB launched a new cross-business initiative to serve small-to-midsize healthcare practices with up to $25 million in annual revenue.

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.

Under the new initiative, the bank will help small to mid-size providers accept payments, streamline operations, and improve patient experience. The service also combines wealth management expertise to help practitioners achieve their personal financial goals.

The company said 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.

Also Read: S&P Slashes Ratings Of 5 US Regional Banks Facing Growing Challenges

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Newly appointed Head of Healthcare Business Banking Joe Persichetti will lead this effort.

For the development, USB is adding over 50 new positions nationwide to power the initiative, combining high-touch service with healthcare expertise and tailored solutions.

U.S. Bank will have healthcare business banking relationship managers located in strategic markets across its footprint.

A dedicated healthcare banker will lead tailored teams for each client, delivering strategies to amplify their practice.

Price Action: USB shares are trading higher by 1.38% to $35.63 on the last check Thursday.