Merion Station Resident Earns CFO of the Year Award
Moorestown, NJ — November 15, 2012 — Merion Station resident Tom Sibson was selected as Chief Financial Officer (CFO) of the Year by NJBIZ, a premier business news publication in New Jersey. Sibson serves as CFO for BAYADA Home Health Care, a leading national home health care provider.
The CFO of the Year Awards program celebrates New Jersey’s financial executives at all levels who contribute to the success of the state’s economic growth and stability. Finalists were selected in seven categories, and Sibson won in the private company with revenues over $50,000,000 category. The awards ceremony was held on Tuesday, November 13 at the Palace at Somerset Park in Somerset, NJ.
When Sibson took the reins as Chief Financial Officer for BAYADA in 2005, 10,548 employees working from 106 offices provided care to 12,094 clients in 15 states, and reported annual revenue was $328,066,020. Today, Sibson has helped BAYADA grow to provide home health care to nearly 22,000 clients who receive care from more than 18,600 staff working out of 250 offices in 25 states. In 2011, the company’s annual revenue was $677,106,250, a 106% increase from 2005.
When he joined BAYADA, Sibson immediately embraced the company’s vision for millions of people worldwide to experience a better quality of life in the comfort of their own homes. However, to make this vision a reality, the company’s health care professionals needed the backing of comprehensive financial, accounting, and information technology systems essential to meeting current needs, with the capability to adapt to future challenges.
In 2005, Sibson inherited an in-house financial data system with limited capabilities. He soon implemented a platform with multiple functionalities including financial reporting, weekly income statements, general ledger and accounts payable functions, and payroll processing for thousands of employees. What’s more, he developed an annual and quarterly budgeting process, helping the company achieve targeted goals.
When asked to describe Sibson’s accomplishments, his 200 staff agree he is honest, committed, and hard working, and sets high standards for both himself and his team. Those qualities provided the catalyst for his leadership role in a major acquisition last year, adding 18 new offices to BAYADA. Sibson spearheaded the financial and operational integration for the nearly 1,200 new employees and 1,800 new clients, leading a team of 170 people who worked on payroll, benefits, quality assurance, payor relationships, policies, accounts payable, communications, and information technology.
Sibson also initiated and co-led the drafting of the BAYADA operating model of best practices, which laid the foundation for the company’s vision of growth and sustainability in generations to come.
Sibson draws on his experience at NJ-based Quickie Manufacturing, where he served as CFO from 1996 to 2005. He also worked as a manager at Arthur Anderson, LLP from 1989 to 1995. He earned his MBA in management from the NYU Stern School of Business and his bachelor’s degree in accounting from Drexel University.
Sibson’s passion is the driving force behind his desire to help those in need. When his mother received a devastating diagnosis of Alzheimer’s disease, he made the courageous decision to combine his formidable athletic abilities with raising money for research into new treatments. In 2009, he participated in the Ironman Triathlon in Kona, Hawaii, where he was recognized as the fourth highest fundraiser, bringing in more than $17,000 for the Alzheimer’s Association. He serves on the board of the Delaware Valley Chapter of the Alzheimer’s Association, and the Board of Directors of Inglis House, a non-profit organization that provide services to people with physical disabilities.
Sibson also believes in giving back through education. He shares his expert knowledge on a regular basis as a guest lecturer at Swarthmore College, where he teaches a course in business and ethics.
Sibson considers his family to be the most important part of his life and enjoys spending time with his wife Laura and their two sons, Mitchell, 12 and Zachary,15.
Founded in 1975 by J. Mark Baiada, BAYADA Home Health Care provides nursing, rehabilitative, therapeutic, hospice, and assistive care services to children, adults, and seniors in the comfort of their homes. Headquartered in suburban Philadelphia, BAYADA employs more than 18,000 nurses, home health aides, therapists, medical social workers, and other home health care professionals who serve their communities in 25 states from more than 250 offices. For more information, v