Standards for institutional plan of risk management for hospitals and nursing homes.

(a) A hospital plan of risk management shall provide for certification by the individual or entities so empowered in the plan of risk management to be made to the Insurance Commissioner of satisfactory compliance with the following:

(1) The Medical Practice Act of 1985 (63 P. S. § § 422.1—422.45); the Osteopathic Medical Practice Act (63 P. S. § § 271.1—271.18) or the Podiatry Practice Act (63 P. S. § § 42.1—42.21c).

(2) The provisions for professional standards review in section 1160 of the Social Security Act (42 U.S.C.A. § 1320c-9).

(3) A 3-year accreditation by the Joint Commission on Accreditation of Hospitals.

(4) The continuing education requirements of the Pennsylvania Medical Society, the Pennsylvania Osteopathic Medical Association, the Pennsylvania Podiatry Association or their equivalent.

(b) An institutional plan of risk management for nursing homes shall include certification by the management to the Insurance Commissioner of satisfactory compliance with one of the following:

(1) Licensure provisions for long-term care facilities at 28 Pa. Code Part IV, Subpart C (relating to long term care facilities).

(2) American National Standards Institute specifications for building and facilities accessible to and used by physically handicapped, and the Pennsylvania standards and specifications for access by the physically handicapped applicable to facilities constructed with Commonwealth funds set by sections 1—3.1 of the act of September 1, 1965 (P. L. 459, No. 235) (71 P. S. § § 1455.1—1455.3a) and 34 Pa. Code § § 47.111—47.131 (relating to facilities for handicapped).