Spectrum Health System
Spectrum Health Announces New Senior Vice President and Chief Financial Officer
Matthew Cox assumes role following post at Banner Health in Phoenix
GRAND RAPIDS, Mich. – Matthew E. Cox, MBA, CPA, joined Spectrum Health as senior vice president and chief financial officer for the system on December 31, 2017. In this role, Cox will lead the finance team and assume financial responsibilities for Spectrum Health and its subsidiaries.
“Matt Cox has had a distinguished career in health care financial leadership with extensive experience in multi-faceted health systems,” said Richard C. Breon, Spectrum Health President & CEO. “Additionally, he has diverse experience in areas that Spectrum Health has identified as opportunities for growth such as consumerism and the customer experience. We are pleased and excited to welcome him to our leadership team.”
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, led the development of physician compensation models to improve quality, productivity and profitability, implemented financial improvement and restructuring programs, and led the financial turnaround of several health systems.
“Spectrum Health is a nationally-recognized organization that has achieved impressive growth and accomplishment in its first twenty years of existence,” said Cox. “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.”
Cox was most recently the senior vice president of finance operations at Banner Health in Phoenix, Arizona, providing oversight to 29 hospitals across six states, including 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.
Prior to his position at Banner Health, Cox served as chief financial officer of Dignity Health Arizona Service Area, which includes St. Joseph’s Hospital and Medical Center, home of the Barrow Neurosurgical Institute and a teaching partnership with Creighton University School of Medicine. There, he also served as board chair of Mercy Maricopa Integrated Care Health Plan and served in committee leadership positions for Mercy Care Plan, joint venture health plans of Dignity and Ascension with revenues of approximately $2 billion.
His other roles included executive vice president, chief financial officer and treasurer of Central Maine Healthcare in Lewiston, Maine; Two posts at Catholic Health Initiatives that include senior vice president of finance and chief financial officer of St. Vincent Health System in Little Rock, Arkansas; and vice president of finance/operations and chief financial officer of Holy Rosary Medical Center and Clinics in Ontario, Oregon. He holds a bachelor’s degree in accounting and an MBA from Westminster College.
Cox replaces Ron Knaus, the retiring senior vice president and chief financial officer who served Spectrum Health and Butterworth Hospital for nearly three decades.
Spectrum Health is a not-for-profit health system, based in West Michigan, offering a full continuum of care through the Spectrum Health Hospital Group, which is comprised of 12 hospitals, including Helen DeVos Children’s Hospital; 180 ambulatory and service sites; 3,600 physicians and advanced practice providers, including 1,500 members of the Spectrum Health Medical Group; and Priority Health, a health plan that served 996,000 members in fiscal year 2017. Spectrum Health is West Michigan’s largest employer, with 26,000 employees. The organization provided $372 million in community benefit during its 2017 fiscal year. Spectrum Health was named one of the nation’s 15 Top Health Systems—and in the top five among the largest health systems—in 2017 by Truven Health Analytics®, part of IBM Watson HealthTM. This is the sixth time the organization has received this recognition.