Program Authorization: R.S. 40:1299.41-.48
This program serves as a repository for funds derived from a surcharge levied on private sector health care providers for the payment of medical malpractice claims in amounts between $100,000 and $500,000.
This agency's recommended appropriation does not include any funds for short-term debt.
This agency does not have any long-term debt for Fiscal Year 1998-1999.
SOURCE OF FUNDING
The funding for this program is generated from surcharges levied on the private sector health care providers. The funds generated are deposited into the Patients Compensation Fund. Louisiana Revised Statute 40:1299.44 created the Patients Compensation Fund and related statutes provides for usage and administration of this fund by the Patients Compensation Oversight Board. (Per R.S. 39:32B.(8) see table below for a listing of expenditures out of each statutory dedicated fund.)
ANALYSIS OF RECOMMENDATION
The total means of financing for this program is recommended at 115.4% of the existing operating budget. It represents 115.4% of the total request ($65,000,000) for this program. The increased funding recommendation over existing operating budget and total requested is attributed to current year expenditure activity. Although the program administrator is attempting to contain costs, the expenditure patterns of prior years and the first seven (7) months of current year reflects the necessity to project increased expenditure growth for Fiscal Year 1999.
ACQUISITIONS AND MAJOR REPAIRS
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