Becker’s Healthcare Podcast Dennis Laraway, CFO at Cleveland Clinic
Dec 5, 2025
Dennis Laraway, Executive Vice President and CFO at Cleveland Clinic, brings a wealth of experience from top U.S. health systems. He discusses the major trends impacting healthcare strategy, including payment reform and cost transformation. Laraway emphasizes the role of AI in driving efficiency and innovation, detailing partnerships with tech giants like Oracle and Palantir. He argues for collaboration between providers and payers in navigating AI challenges, rather than competing in a race, providing insightful perspectives on the future of care.
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Healthcare At A Transformation Inflection
- Healthcare is ripe for industrialization because it comprises nearly 20% of U.S. GDP and lags other sectors in technology adoption.
- Payment reform, cost transformation, and AI are converging forces reshaping system strategy and urgency.
Treat Cost Transformation As First-Line Defense
- When faced with price and payment pressure, focus on cost transformation across labor, supply chain, and back-office consolidation.
- Drive standardization and reduced variation to capture efficiency and protect margins.
Optimize Labor Productivity Deliberately
- Prioritize labor productivity and use staff at the top of their license while remaining an employer of choice.
- Measure and manage workforce efficiency to translate revenue growth directly into operating income.