Laraway has served as a financial leader at large integrated health systems
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Cleveland Clinic has announced that Dennis L. Laraway will be joining the health system as Chief Financial Officer on March 13, 2023.
Since 2017, Laraway has served as executive vice president and Chief Financial Officer at Banner Health, a $12 billion health system based in Phoenix. Banner Health is one of the nation’s largest nonprofit health systems and operates 32 hospitals across Arizona, California, Colorado, Nebraska, Nevada and Wyoming.
In his role at Banner Health, Laraway implemented payer-to-provider strategies; led the organization’s insurance and value-based care initiatives; provided leadership to Banner Health’s academic relationship with the University of Arizona; directed Banner Health’s capital markets programs, ratings agency reviews and investor relations; and provided financial leadership during the COVID-19 pandemic.
“We look forward to welcoming Dennis to our organization,” said Tom Mihaljevic, M.D., CEO and President of Cleveland Clinic and the holder of the Morton L. Mandel CEO Chair. “He is a proven leader with experience developing business approaches for complex healthcare organizations. We share a commitment to building on our history of financial stewardship, which puts us in a solid position to face financial challenges, provide quality patient care and support our communities.”
In prior roles, Laraway held Chief Financial Officer positions at Memorial Hermann Health System in Houston; Scott & White Healthcare in Temple, Texas; St. Joseph’s Hospital & Medical Center in Phoenix; and Seton Health System, formerly a member of Ascension Health, in Troy, New York.
“Cleveland Clinic’s clinical, teaching, and research capabilities are world-class. I’ve found the culture and leadership teams across the enterprise to be equally impressive,” said Laraway. “This is a compelling opportunity and I’m honored to join the team as we lead the Cleveland Clinic through some of the most disruptive challenges seen in our nation’s (and global) health sector.”
Laraway holds a master’s degree in business administration from the Lally School of Management at Rensselaer Polytechnic Institute in Troy, New York. He has held teaching positions in schools of business at Arizona State University and Rice University.
Laraway succeeds Tony Helton, who has served as Cleveland Clinic’s interim Chief Financial Officer since May 2022. Helton will return to his previous role as executive director of revenue cycle management at Cleveland Clinic.
Cleveland Clinic is a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education. Located in Cleveland, Ohio, it was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. Cleveland Clinic has pioneered many medical breakthroughs, including coronary artery bypass surgery and the first face transplant in the United States. Cleveland Clinic is consistently recognized in the U.S. and throughout the world for its expertise and care. Among Cleveland Clinic’s 81,000 employees worldwide are more than 5,743 salaried physicians and researchers, and 20,160 registered nurses and advanced practice providers, representing 140 medical specialties and subspecialties. Cleveland Clinic is a 6,690-bed health system that includes a 173-acre main campus near downtown Cleveland, 23 hospitals, 276 outpatient facilities, including locations in northeast Ohio; Florida; Las Vegas, Nevada; Toronto, Canada; Abu Dhabi, UAE; and London, England. In 2023, there were 13.7 million outpatient encounters, 323,000 hospital admissions and observations, and 301,000 surgeries and procedures throughout Cleveland Clinic’s health system. Patients came for treatment from every state and 132 countries. Visit us at clevelandclinic.org. Follow us at twitter.com/CleClinicNews. News and resources available at newsroom.clevelandclinic.org.
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