Dennis Laraway

The Cleveland Clinic's Money Man

EVP and CFO, Cleveland Clinic

Hospital System Finance· Member, confirmed on the Nov. 9, 2026 agenda

Last verified November 6, 2026

Overview

Every employer in Laraway's career is a direct competitor to physician-owned hospitals and a direct beneficiary of the Section 6001 ban. He is now CFO of Cleveland Clinic, which reported $18.3 billion in revenue and $913 million in operating income for 2025. The system collected $934 million in 340B drug revenue over three years and paid $28.85 million in federal fraud settlements in four years. It is paid 3 to 5 times more by Medicare than physician-owned facilities for the same procedures. In June 2026 the Clinic paid $308,000 to resolve alleged false billings and committed $2 million for care for detransitioners under a DOJ resolution; it denied the allegations. He sits on the committee's Reducing Administrative Burden working group.

Since March 2026

What has changed

May 15, 2026Cleveland Clinic reported Q1 2026 operating income of $173 million on $4.7 billion unrestricted revenue (3.7% margin), up from $53 million (1.3%) in Q1 2025; operating revenues rose 12.1%. source
June 5, 2026DOJ announced a resolution with Cleveland Clinic: a $308,000 payment to resolve alleged false billings, $2 million for care for detransitioners, and a long-term commitment not to provide puberty blockers or cross-sex hormones to minors. The Clinic denied the allegations. source
August 14, 2026Q2 2026 operating income of $246 million on $4.9 billion revenue (5.0% margin), down 3.7% from $255 million (5.6%) in Q2 2025; first-half operating income $418 million (4.3%). Cash and investments $18.3 billion at June 30, 2026. source
October 8, 2026SEIU 1199 WV/KY/OH members at Cleveland Clinic Lutheran Hospital ratified a contract with wage increases of nearly 11% over three years, ending a strike that began Sept 23, 2026. source
November 2, 2026Spoke as EVP and CFO of Cleveland Clinic at the Becker's CEO + CFO Roundtable session 'Bending the cost curve without breaking growth' on Nov 2, 2026. source

Career arc

Professional timeline

2023–Present

EVP & CFO

Cleveland Clinic: $18B revenue, 23 hospitals

2017–2023

EVP & CFO

Banner Health: $12B, 32 hospitals

2011–2017

EVP & CFO

Memorial Hermann: $5B+, 19 hospitals

~2006–2011

CFO

Scott & White Healthcare

2002–2006

VP & CFO

St. Joseph's Hospital / Dignity Health

Pre-2002

CFO

Seton Health / Ascension

Business interests and affiliations

•Cleveland Clinic: $18B revenue, 23 hospitals.
•340B Revenue: $934M received (April 2020–June 2023) via "rural-referral center" loophole despite being in downtown Cleveland.
•Banner|Aetna: architect of Banner's joint venture with Aetna (CVS Health) to sell insurance in Arizona.
•Federal lobbying: $500,000 + $779,358 PAC contributions in 2024 cycle.
•Faculty at Arizona State and Rice University.

Red flags

Conflicts and concerns

$21.25M False Claims Act settlement (2021): Akron General paid physicians above fair market value for referrals: Anti-Kickback Statute and Stark Law violations. Whistleblower was fired.

$7.6M settlement (2024): False statements to NIH concealing foreign funding sources on three grants.

Active class action: deceptive billing practices under Ohio Consumer Sales Practices Act.

Senate HELP Committee found Cleveland Clinic "did not clearly designate any portion of its 340B savings for patient drug cost reduction."

No clinical background whatsoever. Finance executive advising on healthcare delivery.

Cleveland Clinic benefits from the Medicare site-payment disparity: traditional hospitals collect 3–5x more from Medicare than physician-owned facilities for the same procedures.

Physician-owned hospitals

Cleveland Clinic is among the most direct financial beneficiaries of the Section 6001 ban and the Medicare site-payment disparity. Its CFO advising CMS on payment policy is a direct pipeline from America's most prestigious hospital brand to the reimbursement rules protecting its competitive position against physician-owned alternatives.

Sources