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March 07, 2012
Veteran Financial Health-Care Executive Named CFO of Loyola University Health System
MAYWOOD, Ill. -- Jay Sial, 47, a senior financial executive with more than 25 years of experience in managing the finances of health-care systems, has been named chief financial officer of Loyola University Health System (LUHS). He will start April 2.
Sial will fill the position that had been held for the past year on an interim basis by Tom Honan.
Sial is currently chief financial officer at the University of Kentucky Healthcare Hospitals, Lexington. Before that, he served as vice president of finance at Thomas Jefferson University Hospitals, Philadelphia. He has a history of working closely with physicians and developed a physician hospital organization at Jefferson. Prior to Jefferson, he worked in the health insurance industry.
"Jay's strong operational and strategic planning background is a good fit for LUHS," said Larry Goldberg, president and CEO of LUHS. "He has significant experience in financial operations and managed care, which is critical as we face some of the new challenges of health reform," Goldberg added.
In addition to overseeing the finances at LUHS, Sial will serve as the health system's financial liaison with Trinity Health's home office in Novi, Mich. LUHS has been a part of Trinity Health's nationwide Catholic health system since July 1, 2011.
"I am honored to take on the role of CFO and look forward to partnering with Larry and the Loyola/Trinity team in furthering the mission of LUHS."
While at UK Healthcare Hospitals, Sial implemented a balanced scorecard model to measure and monitor operating performance and helped plan for the opening of a 1.2 million-square-foot academic medical center facility, which included 128 beds, operating rooms and a new Emergency Department. During his time at UK, the health system achieved an operating margin that ranked in the top 10th percentile of academic medical centers nationwide.
Jay has a Master of Business Administration from Virginia Tech, and a bachelor's degree in Economics and Accounting from the University of Delhi, India. He plans to move to Chicago with his family.
Loyola University Health System (LUHS) is a member of Trinity Health. Based in the western suburbs of Chicago, LUHS is a quaternary care system with a 61-acre main medical center campus, the 36-acre Gottlieb Memorial Hospital campus and more than 30 primary and specialty care facilities in Cook, Will and DuPage counties. The medical center campus is conveniently located in Maywood, 13 miles west of the Chicago Loop and 8 miles east of Oak Brook, Ill. The heart of the medical center campus is a 559-licensed-bed hospital that houses a Level 1 Trauma Center, a Burn Center and the Ronald McDonald® Children's Hospital of Loyola University Medical Center. Also on campus are the Cardinal Bernardin Cancer Center, Loyola Outpatient Center, Center for Heart & Vascular Medicine and Loyola Oral Health Center as well as the LUC Stritch School of Medicine, the LUC Marcella Niehoff School of Nursing and the Loyola Center for Fitness. Loyola's Gottlieb campus in Melrose Park includes the 255-licensed-bed community hospital, the Professional Office Building housing 150 private practice clinics, the Adult Day Care, the Gottlieb Center for Fitness, Loyola Center for Metabolic Surgery and Bariatric Care and the Loyola Cancer Care & Research at the Marjorie G. Weinberg Cancer Center at Melrose Park.