Patient's Compensation Fund - Surcharge Rates for Hospitals and Physicians

Februaiy 7, 2013 Bulletin 196 PATIENT'S COMPENSATION FUND­ SURCHARGE RATES FOR HOSPITALS AND PHYSICIANS This bulletin is directed to all health care providers electing to be qualified under Indiana's Medical Malpractice Act (IC 34-18-1-1 et seq.) and to insurei'S that provide coverage to those health care providers. In December 2012 the Patient's Compensation Fund ("PCF") converted to an electronic system for filing proof of financial responsibility and paying surcharge to the PCF. Therefore, Bulletins 148 and 119, which both require use of a paper PCF Cei·tificate of Insurance, are withdrawn. Furthermore, pursuant to IC 34-18-5-2, the Commissioner of the Department of Insurance in his capacity as administrator of the PCF hereby notifies physicians and hospitals of the following surcharge fm qualification under the Medical Malpractice Act. The rates are effective for coverage beginning April 1, 2013. PHYSICIANS The surcharge for physicians will increase by 2.5% from the rates effective March 1, 2012, through March 31, 2013. A complete list of physician specialty class codes is published at 760 IAC 1-60-3. CLASS ANNUALRATE 0 $1,828 1 $2,437 2 $3,412 3 $4,387 4 $5,483 5 $7,311 6 $10,967 7 $17,059 8 $20,715 - HOSPITALS The surcharge for hospitals are shown below and 1·epresent an overall 5.8% increase from the rates effective March 1, 2012, through March 31, 2013. The surcharge calculations must be completed with the online filing worksheet which can be accessed at https://www.in.gov/idoi/surcharge-rates-calculation-sheets/.h Beds, Hospital (Acute Care and Intensive Care) $623 Mental Health/Rehabilitation $312 Extended Care/Intermediate Care/Residential $31 Nursing Home/Critical Extended Care $312 Health Institution/Assisted Living/Other $125 Bassinets $623 Emergency Room (per lOO'visits) $62.30 Clinics/Others (per 100 visits) $31.15 Mental Health/Rehabilitation (per 100 visits) $15.58 Health Institution (per 100 visits) $12.46 Home Health Care (per 100 visits) Births (per 100) Outpatient Surgeries (per 100) $31.15 $2,492 $62.30 Inpatient Sm·geries (per 100) $1,246 Physicians employed by hospitals continue to pay 100% of the appropriate surcha1·ge for the physician's specialty class. Hospitals lacking a risk management program continue to receive a 10% penalty of the subtotal of surcharge due. Hospitals with more than 500 •hbeds should continue to add a 3% multiplier to the subtotal of surcharge due.h . Stephen W. Robertson, Insurance Commissioner 2 Exposure Rate