Patient's Compensation Fund Oversight Board public meetings in 2021
22 substantive meetings from 2021, with official agendas or minutes and plain-English summaries.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review the 2021 financial audit report from Postlethwaite & Netterville. The board will also discuss the 2022 meeting schedule, monthly budget reports, and claims reports.
- 2021 Financial Audit Report by Postlethwaite & Netterville
- Request for Admin Coordinator job appointments to be permanent
- Monthly financial and budget reports
- Claims report
- Executive session regarding PCFOB litigation
The Patient's Compensation Fund Oversight Board approved 17 claims for settlement totaling $4,872,548. The Board also voted to request that two administrator coordinator positions be made permanent through Civil Service.
- Approved November 4, 2021, minutes (unanimous)
- Approved request to Civil Service to make two administrator coordinator positions permanent (unanimous)
- Approved 17 claims for settlement totaling $4,872,548 (unanimous)
- Changed February 2022 meeting date to February 10, 2022
Patient's Compensation Fund Oversight Board
The PCF Oversight Board will meet to approve the October 2021 minutes, discuss investments with an advisor, review monthly finances, and vote on the 2022-23 budget. An executive session is scheduled for litigation discussion in the case of Lauren Olson v. Louisiana Patient’s Compensation Fund Oversight Board.
- Approval of October 7, 2021 minutes
- Investment discussion with Matt Padberg of Cardinal Investment Advisors
- Monthly financial discussion and 2022-23 budget approval
- Executive session for litigation: Lauren Olson v. Louisiana Patient’s Compensation Fund Oversight Board et al
The Board approved the 2022-23 projected budget and an updated investment policy statement. Additionally, the Board approved nine claims for settlement totaling $2,909,000 following an executive session.
- Approved October 7, 2021, minutes (unanimous)
- Approved updated investment policy statement (unanimous)
- Approved 2022-23 projected budget (unanimous)
- Approved 9 claims for settlement totaling $2,909,000 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review monthly financial reports, claims, and the September 23, 2021 minutes. The agenda includes an investment update from Cardinal Investment Advisors, LLC and a discussion regarding the extension of Emergency Rule 8.
- Discussion and Extension of Emergency Rule 8
- Investment update from Matt Padberg of Cardinal Investment Advisors, LLC
- Review of monthly financial reports and claims report
- Executive session regarding PCFOB litigation
The Board approved Emergency Rule 8-A to provide a 30-day grace period for health care providers to pay surcharges during emergencies. Members also voted to change the fund's asset allocation to increase high-yield and private real estate investments. The meeting included financial reports and the swearing-in of a new member.
- Sworn in new Board member Dr. David Broussard
- Approved September 23, 2021, minutes (unanimous verbal vote)
- Adopted PCF Emergency Rule 8-A regarding 30-day surcharge grace periods (unanimous verbal vote)
- Approved changing asset allocation to reduce fixed-income and increase high-yield and private real estate (unanimous verbal vote)
- Moved into Executive Session to discuss litigation (unanimous verbal vote)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board is meeting to review financial and claims reports. The board will vote on Act 43 meeting compliance and discuss an emergency rule related to Hurricane Ida.
- Vote on Act 43 Meeting Compliance Requirement
- Discussion and approval of Emergency Rule 8 (Hurricane Ida)
- Review of monthly financial reports
- Review of claims report
- Executive session regarding litigation and claims
Patient's Compensation Fund Oversight Board
The Board adopted Emergency Rule 8 to provide a 30-day grace period for healthcare providers to pay surcharges following Hurricane Ida. Additionally, the Board approved 23 claim settlements totaling $8,357,169.
- Approved August 5, 2021 minutes (unanimous)
- Adopted PCF Emergency Rule 8 regarding Hurricane Ida surcharge grace periods (unanimous)
- Approved 23 claim settlements totaling $8,357,169
- Approved motion to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Patient’s Compensation Fund Oversight Board has scheduled a meeting to conduct normal business and address COVID-19 related items. Due to the declared public health emergency, the meeting will be held via Zoom rather than in person.
- Notice of teleconference meeting via Zoom
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board approved 19 claim settlements totaling $10,647,000. The Board also adopted the minutes from the July 1, 2021 meeting and reviewed financial reports for the 20-21 and 21-22 fiscal years.
- Approved 19 claim settlements totaling $10,647,000
- Adopted July 1, 2021 meeting minutes
- Approved motion to hear motions during virtual meeting (unanimous)
- Approved motion to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board is holding a teleconference meeting on August 5, 2021, at 5:30 p.m. due to the COVID-19 public health emergency. The agenda will be posted 24 hours before the meeting. Public comments can be submitted by email or during the meeting via Zoom.
- Meeting conducted via Zoom teleconference due to COVID-19 emergency
- Public comments accepted by email or during meeting via Zoom 'raise hand' feature
- Agenda to be posted 24 hours before the meeting
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet via Zoom to conduct a general session including a vote on Act 43 meeting compliance. The board will also review July 1, 2021, minutes, monthly financial reports, and claims reports.
- Vote on Act 43 Meeting Compliance Requirement
- Approval of July 1, 2021 Minutes
- Monthly Financial Discussion and Reports
- Claims Report
- Executive Session regarding PCFOB litigation
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review monthly financial reports, claims, and an investment update from Cardinal Investment Advisors, LLC. The board will also discuss annual evaluation and compensation for unclassified staff.
- Investment update from Matt Padberg of Cardinal Investment Advisors, LLC
- Annual evaluation and compensation discussion for unclassified staff
- Monthly financial reports and claims report
- Executive session regarding litigation involving the PCFOB
The Board approved salary increases for the Executive Director and Claims Manager. It also voted to change the private real estate investment benchmark from the REIT index to the ODCE index. Financial reports were presented showing a fund balance of approximately $1,219,925,426.
- Approved June 17, 2021 minutes (unanimous)
- Approved changing private real estate benchmark from REIT index to ODCE index (unanimous)
- Approved 3% salary increase for Executive Director Ken Schnauder and 4% increase for Claims Manager Kurt Loup effective July 15, 2021 (unanimous)
- Approved 13 claims for settlement totaling $5,380,000
- Voted unanimously to enter Executive Session to discuss litigation
Patient's Compensation Fund Oversight Board
The Board will meet to approve previous minutes and elect officers. The agenda includes a presentation of the Annual Actuarial Rate Study and reviews of monthly financial and claims reports.
- Annual Actuarial Rate Study Presentation by Jim Hurley-Willis Towers Watson
- Election of Officers via Nominating Committee
- Monthly Financial Discussion and Reports
- Claims Report
- Executive Session regarding litigation involving the PCFOB
The Patient's Compensation Fund Oversight Board decided against increasing provider rates, opting to cover a $22.5 million surcharge reduction through investment income. The Board also re-elected its current officers and approved 23 claim settlements.
- Approved no rate increase or change for any provider (verbal vote)
- Re-elected Dr. Foret as Chairman, Mr. Naquin as Vice Chairman, and Dr. Alvarado as Secretary (verbal vote)
- Approved 23 claims for settlement totaling $15,088,672
- Adopted May 6, 2021 minutes (verbal vote)
- Moved into Executive Session to discuss litigation (unanimous verbal vote)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review administrative contracts for fiscal year 2021-22. The agenda includes monthly financial discussions, reports on claims, and an executive session regarding litigation.
- Discussion and Approval of Administrative Contracts - Fiscal 2021-22
- Monthly Financial Discussion and Reports
- Claims Report
- Executive Session for discussion of litigation involving the PCFOB
The Board approved the renewal of administrative contracts for the 2021-22 fiscal year. It also approved 21 claim settlements totaling $9,897,782. The meeting concluded with a move into Executive Session to discuss litigation.
- Approved April 1, 2021 minutes (unanimous)
- Approved renewal of FY 2021-22 administrative contracts for actuary, CPA, software maintenance, auditors, General Counsel, and CMS reporting vendor (unanimous)
- Approved 21 claim settlements totaling $9,897,782
- Approved motion to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The board will meet to approve previous meeting minutes and review monthly financial and claims reports. An executive session is scheduled to discuss litigation involving the PCFOB.
- Approval of March 4, 2021 Minutes
- Monthly Financial Discussion and Reports
- Claims Report
- Litigation and Claims Committee Reports
The Patient's Compensation Fund Oversight Board approved 21 claim settlements totaling $5,753,500. The Board also adopted the minutes from the March 4, 2021 meeting. Members entered an executive session to discuss litigation.
- Approved March 4, 2021 minutes (unanimous)
- Approved 21 claim settlements totaling $5,753,500
- Approved motion to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board approved 11 claims for settlement totaling $3,728,810. The Board also adopted the February 4, 2021 meeting minutes and scheduled an in-person meeting for April at the Crowne Plaza Hotel in Baton Rouge.
- Approved 11 claims for settlement in the amount of $3,728,810
- Adopted February 4, 2021 meeting minutes
- Decided to hold April meeting in-person at Crowne Plaza Hotel with a Zoom option
- Voted unanimously to enter Executive Session to discuss litigation
Patient's Compensation Fund Oversight Board
The Patient’s Compensation Fund Oversight Board scheduled a meeting for March 4, 2021, via Zoom. The Chairman certified the use of teleconference to protect public health during the declared COVID-19 Public Health Emergency.
- Notice of teleconference meeting via Zoom
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet via Zoom to review financial reports and investment updates. The agenda includes a vote on Act 43 meeting compliance and discussion regarding the April board meeting.
- Vote on Act 43 Meeting Compliance Requirement
- Approval of February 4, 2021 Minutes
- 2020 Year-end Investment update from Cardinal Investment Advisors, LLC
- Monthly Financial Discussion and Reports
- Claims Report
Patient's Compensation Fund Oversight Board
The Board approved 17 claims for settlement totaling $4,770,000. It also voted to change the general counsel legal contract from Roedel Parsons to Alexander Sides effective March 1, 2021.
- Approved January 7, 2021 meeting minutes
- Approved amendment of general counsel contract from Roedel Parsons to Alexander Sides
- Approved 17 claims for settlement in the amount of $4,770,000
- Approved motion to enter Executive Session to discuss litigation
Patient's Compensation Fund Oversight Board
The Board will meet via Zoom to conduct general business including financial and claims reports. The agenda includes a vote on Act 43 compliance requirements and the approval of January 7, 2021 minutes.
- Act 43 Meeting Compliance Requirement Vote
- Approval of January 7, 2021 Minutes
- Discussion and Approval of General Counsel Legal Contract
- Monthly Financial Discussion and Reports
- Claims Report
Patient's Compensation Fund Oversight Board
The Board is holding a meeting on February 4, 2021, via Zoom to conduct normal business and address items related to the COVID-19 crisis. The meeting is being held electronically to comply with public health emergency orders.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet via Zoom teleconference. The agenda includes a vote on Act 43 meeting compliance requirements and reviews of monthly financial reports and claims.
- Vote on Act 43 Meeting Compliance Requirement
- Approval of December 3, 2020 Minutes
- Monthly Financial Discussion and Reports
- Claims Report
- Executive Session regarding PCFOB litigation
Patient's Compensation Fund Oversight Board
The Board adopted the December 3, 2020 meeting minutes and approved 15 claim settlements totaling $5,695,000. The Board also reviewed financial reports and monthly claims data before entering executive session to discuss litigation.
- Approved December 3, 2020 meeting minutes (unanimous)
- Approved 15 claim settlements totaling $5,695,000
- Approved motion to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Board is meeting via Zoom on January 7, 2021, to conduct normal business and address items related to the COVID-19 crisis. The meeting is being held remotely to comply with the Governor's public health emergency declaration.