2011 Holiday Schedule
The PCF will be closed on the following dates:
Friday, November 11, 2011 – Veteran’s Day
Friday, November 25, 2011 – Acadian Day
Friday, December 23, 2011 – Christmas Holiday
Monday, December 26, 2011 –Christmas Holiday
Friday, December 30, 2011 – New Year Holiday
Monday, January 2, 2012 – New Year Holiday
The Louisiana Patient’s Compensation Fund (PCF) Oversight Board presented the second consecutive annual decrease in rates for healthcare providers, averaging a decrease of 4.3 percent. The new rates went into effect September. 2, 2011. Hospital rates have decreased 0.9 percent; nursing home combined rates have decreased 12.9 percent; physician rates have decreased an overall 3.7 percent; dentist rates have decreased 14.1 percent; Certified Registered Nurse Anesthetist rates have decreased 21.6 percent, and other advanced practice nurse rates have decreased 4.3 percent. Oral surgeons will see a 3 percent increase, and there will be no change in the rates for the “other” class. Despite the refocusing of the priorities of the fund from aggressively raising rates to lower the unfunded accrued liability (UAL) to providing solid but more affordable coverage, the PCF was still able to pay its claims and administrative costs and put an additional $50 million toward funding the UAL. This was possible because of a better than average claims experience and lower frequency. Rates have declined in the last two years for the first time in the 35-year history of the Medical Malpractice Act.
On Thursday, September 1, 2011, the PCF Oversight Board elected its new officers. Clark Cossé, LHA chief governmental officer and general counsel, was re-elected to serve as chairman; Dr. Vincent “Van” Culotta, representing physicians, was re-elected vice-chair, and Kent Guidry of Acadian Ambulance, representing the “all other” class of providers, was re-elected secretary.
LINK: FACTS ABOUT CONSTITUTIONAL AMENDMENT #3
RATES - URGENT MESSAGE FROM PCF'S EXECUTIVE DIRECTOR
By a unanimous vote, the PCF Oversight Board made the rate reductions/changes previously effective 1/1/2011 will now be effective 9/2/10. This includes any changes in classifications and requirements.
The Board also further clarified the surcharge requirements for hospital pharmacists and ambulance services. Those hospitals that do not allow discharged patients, employees or others to obtain prescription medicines from the hospital owned pharmacy will not be required to pay an additional surcharge for pharmacists that are employed by the hospital. Any hospital that provides ambulance services, must pay a separate surcharge for that service based on the established PCF surcharge rates for EMTs. The Board allowed a grace period until 1/1/11 for hospitals and insurers to obtain and report this information.
Any questions regarding these changes should be addressed to me.
Certificates can now be printed directly from our website (See left menu.)
ALERT: Are you a Medical Director, Consultant for health insurers, Moonlighter, Prison MDs, APMC, LLC? Do you have coverage with the PCF? Call us to be sure.
Coverage is not considered bound or modified unless confirmed in writing by our office and payment made.
Annual Legislative Report