Patient Compensation Fund Third Party Administrator Services

Overview

Financial, Legal, HR & Staffing

Santa Fe, New Mexico, United StatesPosted 23 days agoDeadline: May 19th, 2026

Fit Score

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SUMMARY

Seeking a third party administrator to manage New Mexico’s Patient Compensation Fund, focusing on application processing, audits, claims management, and IT system maintenance.

KEY REQUIREMENTS

BUDGET

Estimate

$250,000 – $1,000,000

CONTRACT DURATION

48 months

TIMELINE

Issuance of RFP: April 14th, 2026

Acknowledgement of Receipt Form: April 20th, 2026

Deadline to submit Written Questions: April 20th, 2026

Response to Written Questions: April 27th, 2026

Submission of Proposal: May 19th, 2026

Proposal Evaluation: May 20th, 2026 – May 26th, 2026

Selection of Finalists: May 27th, 2026

Best and Final Offers: May 28th, 2026

Oral Presentation: May 29th, 2026

Recommendations to OSI Management and PCD Advisory Board: June 1st, 2026 – June 5th, 2026

Notification of Finalists / Initiation of Contract begins: June 8th, 2026

Contract Award: July 1st, 2026

Protest Deadline: 15 days after awarding of contract.

QUESTION DEADLINE

April 20th, 2026

Issuing Agency

Office Of Superintendent Of Insurance

Organization overview and procurement intelligence available on paid plans.

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DESCRIPTION

This RFP seeks a qualified vendor to provide third party administrator services for the Patient Compensation Fund (PCF) in accordance with the Medical Malpractice Act and PCF regulations. Responsibilities include developing, receiving, and processing provider admission applications, managing all necessary records, and documenting the annual audit plan. The administrator will be expected to deliver access to all relevant admission, financial, actuarial, claims, and legal records tied to the fund.

The contractor will also be responsible for measuring and enhancing customer satisfaction related to claims processes. The role includes maintaining comprehensive insurance coverages such as general liability, errors and omissions, and fidelity coverage. The successful firm will maintain and improve the PCF website, ensuring optimal IT system functionality and security, possibly in partnership with IT professionals. Additionally, the third party administrator must develop and formalize a claims handling policy for future medical claims, pending required approvals.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.