Patient's Compensation Fund Oversight Board public meetings in 2023
12 substantive meetings from 2023, with official agendas or minutes and plain-English summaries.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet on December 7, 2023, to consider the annual fiscal audit report from EisnerAmper, monthly financial and budget reports, and a claims report. The board will also enter executive session to discuss litigation and claims committee reports.
- Annual Fiscal Audit Report – David Moore, Lindsay Watts, EisnerAmper
- Monthly Financial and Budget Reports
- Claims Report
- Executive Session for Litigation and Claims Committee Reports
The Board approved 25 claim settlements totaling $11,542,258. Members also adopted the November 2, 2023 minutes and reviewed a financial audit report for the period ending June 30, 2023, which noted no exceptions.
- Approved November 2, 2023 minutes (unanimous)
- Approved 25 claim settlements totaling $11,542,258 (unanimous)
Patient's Compensation Fund Oversight Board
The Board will review investment updates, asset allocations, and monthly financial and annual budget reports. The agenda also includes a claims report and an executive session to discuss litigation involving the PCFOB.
- Investment Update and Asset Allocations
- Monthly Financial and Annual Budget Reports
- Claims Report
- Executive Session regarding litigation
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review monthly financial reports and a claims report. The agenda includes a proposed rules change regarding ADA requirements for open meetings and a discussion regarding an additional actuarial study.
- Approval of Rules Change – Title 37 - ADA Requirement for Open Meetings
- Discussion of Additional Actuarial Study
- Review of Monthly Financial and Budget Reports
- Review of Claims Report
The Patient's Compensation Fund Oversight Board approved 18 claim settlements totaling $13,113,000. The Board also adopted a rules change to provide ADA-compliant teleconference or video conference participation for meetings.
- Approved September 13, 2023, minutes
- Approved rules change for ADA-compliant teleconference and video conference participation (unanimous)
- Decided a second actuarial study was not needed at this time
- Approved 18 claim settlements totaling $13,113,000 (unanimous)
Patient's Compensation Fund Oversight Board
This is a routine monthly meeting of the Patient's Compensation Fund Oversight Board. The agenda includes approval of prior minutes, monthly financial and budget reports, a claims report, and an executive session to discuss litigation involving the board. No specific votes, dollar amounts, or policy changes are listed.
- Approval of August 10, 2023, minutes
- Monthly Financial and Budget Reports
- Claims Report
- Executive session for litigation and claims committee reports
The Patient's Compensation Fund Oversight Board approved 27 claims for settlement totaling $11,340,000. The Board also requested research into hiring a second actuarial firm for report comparison. Financial reports were presented showing a fund balance of approximately $1,335,312,817.
- Approved August 10, 2023 minutes (unanimous)
- Approved 27 claims for settlement totaling $11,340,000 (unanimous)
- Requested research on additional actuarial firms for a second report
Patient's Compensation Fund Oversight Board
The PCF Oversight Board will meet to discuss investment updates, staff evaluation and compensation, monthly financial reports, and claims. An executive session is scheduled for litigation and claims committee reports.
- Investment update from Cardinal Investment Advisors
- Unclassified staff evaluation and compensation discussion
- Monthly financial and budget reports
- Claims report
- Executive session for litigation and claims committee reports
The Board renewed a three-year custodial services contract with Principal and approved salary increases and bonuses for two staff members. The Board also approved 15 claim settlements totaling $5.32 million following an executive session.
- Approved July 20, 2023 minutes (unanimous)
- Renewed 3-year custodial contract with Principal at $35,000 annual rate (unanimous)
- Approved 6% salary increase for Mr. Schnauder and Mr. Loup effective July 15, 2023 (unanimous)
- Approved $2,000 performance bonus for Mr. Schnauder and $1,000 for Mr. Loup (unanimous)
- Approved 15 claim settlements totaling $5,320,000 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review the annual actuarial rate study presentation. The board will also discuss monthly financial reports, claims reports, and litigation matters in executive session.
- Annual Actuarial Rate Study Presentation by Jim Hurley of Willis Towers Watson
- Monthly Financial Discussion and Reports
- Claims Report
- Executive session discussion regarding PCFOB litigation
The Board approved a rate increase for specific healthcare providers based on an actuarial report. The Board also approved 30 claim settlements totaling $12,222,500 and adopted the June 1, 2023, minutes.
- Approved June 1, 2023, minutes (unanimous)
- Denied motion to keep all provider rates unchanged (4-3)
- Approved rate increases: 2.7% for hospitals, 10.1% for nursing homes, and 6.8% for dentists and oral surgeons (6-1)
- Approved 30 claim settlements totaling $12,222,500 (unanimous)
Patient's Compensation Fund Oversight Board
The Board will review investment updates from Cardinal Investment Advisors, LLC and receive monthly financial and budget reports. The session also includes a report on claims and an executive session regarding litigation involving the PCFOB.
- Investment Update by Jacob Meese of Cardinal Investment Advisors, LLC
- Monthly Financial and Budget Reports
- Claims Report
- Executive Session for discussion of litigation involving the PCFOB
The Board approved 28 claim settlements totaling $8,945,500. Members also adopted the May 4, 2023 meeting minutes and reviewed quarterly investment and financial reports.
- Approved May 4, 2023 minutes (unanimous)
- Approved 28 claim settlements totaling $8,945,500 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to conduct routine business, including the election of board officers and approval of 2023-24 fiscal year administrative contracts. The board will also review monthly financial reports and claims reports.
- Election of Board Officers
- Approval of 2023-24 Fiscal Year Administrative Contracts
- Review of Monthly Financial and Budget Reports
- Review of Claims Report
- Executive session regarding litigation involving the PCFOB
The Patient's Compensation Fund Oversight Board approved six administrative contract renewals for the 2023-2024 fiscal year. The Board also approved 24 claim settlements totaling $9,117,500. Additionally, the Board re-elected its current officers.
- Approved April 6, 2023 minutes
- Elected Dr. Foret as Chairman, Mr. Naquin as Vice Chairman, and Dr. Alvarado as Secretary (unanimous)
- Approved 6 administrative contracts for PMSI Settlement Solutions, JPI, Hannis T. Bourgeois, CPA, Willis Towers Watson, Alexander Sides, and Lafleur & Laborde (unanimous)
- Approved 24 claim settlements totaling $9,117,500 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to approve minutes, review monthly financial and budget reports, and receive a claims report. The board will then enter executive session to discuss litigation and claims committee reports. No votes on substantive policy or funding changes are on the public agenda.
- Approval of March 9, 2023, meeting minutes
- Monthly Financial and Budget Reports
- Claims Report
- Executive session for litigation and claims committee discussions
The Board approved 19 claim settlements totaling $8,065,000 following an executive session. The Board also adopted the March 9, 2023, meeting minutes.
- Approved March 9, 2023, minutes
- Approved 19 claim settlements totaling $8,065,000
Patient's Compensation Fund Oversight Board
The Board will review investment updates from Cardinal Investment Advisors, LLC and examine monthly financial and budget reports. The session also includes a claims report and an executive session to discuss litigation involving the PCFOB.
- Investment Update by Matt Padberg of Cardinal Investment Advisors, LLC
- Monthly Financial and Budget Reports
- Claims Report
- Executive Session regarding PCFOB litigation
The Board approved 19 claim settlements totaling $11,189,500. Members reviewed a quarterly investment report showing a total portfolio balance of $1.2 billion and received a fiscal year-to-date financial report.
- Approved February 2, 2023 minutes (unanimous)
- Approved 19 claim settlements totaling $11,189,500 (unanimous)
- Approved motion to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to approve prior minutes, review monthly financial and budget reports, and discuss a claims report. The board will also enter executive session to discuss litigation and claims committee reports.
- Approval of January 5, 2023, minutes
- Monthly financial and budget reports
- Claims report
- Executive session for litigation and claims committee reports
The Patient's Compensation Fund Oversight Board approved 15 claim settlements totaling $12,540,000. The Board also adopted the minutes from the January 5, 2023 meeting.
- Approved January 5, 2023 minutes (unanimous)
- Approved 15 claim settlements totaling $12,540,000 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will hold a routine meeting to approve prior minutes, review monthly financial and budget reports, and receive a claims report. An executive session is scheduled for discussion of litigation involving the board.
- Approval of December 1, 2022, meeting minutes
- Monthly Financial and Budget Reports
- Claims Report
- Executive session for litigation and claims committee reports
The Patient's Compensation Fund Oversight Board approved 19 claims for settlement totaling $17,453,000. The Board also adopted the minutes from the December 1, 2022 meeting.
- Approved December 1, 2022 minutes (unanimous)
- Approved 19 claims for settlement in the amount of $17,453,000 (unanimous)