Health system hires CFO
A local health system has named its new financial leader.
Grand Rapids-based Spectrum Health said today it hired Matthew Cox as its SVP and chief financial officer.
Cox replaces Ron Knaus, who’s retiring and has served Spectrum Health and Butterworth Hospital in Grand Rapids for nearly three decades.
Cox will lead the finance team and assume financial responsibilities for Spectrum Health and its subsidiaries.
“Spectrum Health is a nationally recognized organization that has achieved impressive growth and accomplishment in its first twenty years of existence,” Cox said. “I look forward to helping the organization continue its success in meeting financial challenges and leading health solutions in a very dynamic financial and regulatory environment.”
Richard Breon, president and CEO of Spectrum Health, said Cox has had “a distinguished career in health care financial leadership, with extensive experience in multi-faceted health systems.”
“Additionally, he has diverse experience in areas that Spectrum Health has identified as opportunities for growth, such as consumerism and the customer experience,” Breon said.
Spectrum Health said Cox has experience in a wide variety of areas of health care finance: he has participated in the formation of joint ventures for insurance products, imaging centers, rehabilitation facilities and surgery centers; he has led the development of physician compensation models "to improve quality, productivity and profitability"; he has implemented financial improvement and restructuring programs; and he has led "the financial turnaround" of several health systems.
Most recently, Cox was the SVP of finance operations at Banner Health in Phoenix, providing oversight to 29 hospitals across six states. The system includes several components: academic and trauma centers; children’s, rural and suburban hospitals; 2,400 employed physicians; post-acute and pharmacy operations; and a number of joint health care ventures.
Previously, Cox served in several financial roles in health care: CFO of the Dignity Health Arizona Service Area, which includes St. Joseph’s Hospital and Medical Center; EVP, CFO and treasurer of Central Maine Healthcare in Lewiston, Maine; SVP of finance and CFO of St. Vincent Health System in Little Rock, Arkansas; and VP of finance and operations and CFO of Holy Rosary Medical Center and Clinics in Ontario, Oregon.
He has also served as board chair of Mercy Maricopa Integrated Care Health Plan and in committee leadership positions for Mercy Care Plan.
He is a CPA and holds a B.A. in accounting and an M.B.A. from Westminster College.