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.