Proposed bill would double number of PCF payout dates per year
Up for second reading today is Senate Bill 56, which would change the current processing and payout dates for the Indiana Patient’s Compensation Fund from twice a year to four times per year.
Currently, medical malpractice cases that exceed the $250,000 cap may be resolved for up to another $1 million with the Indiana Patient’s Compensation Fund (PCF). The trick however is that the PCF processes and pays out on these claims twice per year and all settlements require the approval of court on or before June 30 and December 31. The second of these dates is tricky because judges are hard to find the week between Christmas and New Years Day. If the parties miss the deadline, then it’s another six months before there can be a payout. Additional dates might put a little less pressure on the parties to scramble to settle cases or it might cause four rounds of chaos per year instead of two. Time will tell if it ends up passing.