Dennis Laraway
The Cleveland Clinic's Money Man
EVP & CFO, Cleveland Clinic
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 — an $18B system with $934M in 340B drug revenue over three years, $28.85M in federal fraud settlements in the last four years, and Medicare rate advantages of 3–5x over physician-owned facilities for the same procedures.
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 & 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 & 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 Hospital Relevance
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