Dennis Laraway is taking over for interim CFO Tony Helton.
Cleveland Clinic—an Ohio-based healthcare provider with over $1 billion in total revenue—has appointed healthcare finance industry veteran, Dennis Laraway, as its new chief financial officer—effective March 13, 2023.
Laraway is joining the organization from Banner Health, a $12 billion health system based in Phoenix, where he served as CFO for six years. While working at Banner, 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, rating agency reviews, and investor relations. He also provided financial leadership during the COVID-19 pandemic.
"Cleveland Clinic’s clinical, teaching, and research capabilities are world-class," Laraway said in a release. "I've found the culture and leadership teams across the enterprise to be equally impressive. 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 is taking over the CFO position at Cleveland Clinic from interim CFO Tony Helton. He has been serving in the role since May 2022. Helton will return to his previous role as the executive director of revenue cycle management.
"We look forward to welcoming Dennis to our organization," Tom Mihaljevic, M.D., CEO and President of Cleveland Clinic, said in the announcement "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."
Amanda Schiavo is the Finance Editor for HealthLeaders.
Photo credit: Illustrative Editorial of Cleveland Clinic website homepage/II.studio/Shutterstock.com