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

January 22, 2015 Bulletin 213 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 insurers that provide coverage to those health care providers. Pursuant to IC 34-18-5-2, the Commissioner of the Department of Insurance in his capacity as administrator ofthe Patient's Compensation Fund ("PCF"), hereby notifies physicians and hospitals of the following surcharge for qualification under the Medical Malpractice Act. The rates are effective for coverage beginning April 1, 2015. PHYSICIANS The surcharge for physicians will increase by 3.1 % from the rates effective April I, 2014, through March 31, 2015. A complete list ofphysician specialty class codes is published at 760 IAC 1-60-3. CLASS ANNUAL RATE 0 $2,130.00 1 $2,840.00 2 $3,976.00 3 $5,112.00 4 $6,390.00 5 $8,520.00 6 $12,780.00 7 $19,880.00 8 $24,140.00 HOSPITALS The surcharge for hospitals is shown below and represents an overall 15.9% increase from the rates effective April 1, 2014, through March 31, 2015. The surcharge calculations must be completed with the online filing worksheet which can be accessed at http://www.in.gov/idoi/2607.htm. Beds, Hospital (Acute Care and Intensive Care) $875.00 Mental Health/Rehabilitation $438.00 Extended Care/Intermediate Care/Residential $44.00 Nursing Horne/Critical Extended Care $438.00 Health Institution/ Assisted Living/Other $175.00 Bassinets $875.00 Emergency Room (per 100 visits) $87.50 Clinics/Others (per 100 visits) $43.75 Mental Health/Rehabilitation (per 100 visits) $21.88 Health Institution (per 100 visits) $17.50 Horne Health Care (per 100 visits) $43.75 Births (per 100) $3,500.00 Outpatient Surgeries (per 100) $87.50 Inpatient Surgeries (per 100) $1,750.00 Physicians employed by hospitals continue to pay 100% of the appropriate surcharge for the physician's specialty class. Hospitals lacking a risk management program continue to receive a 10% penalty of the subtotal ofsurcharge due. Hospitals with more than 500 beds should continue to add a 3% multiplier to the subtotal ofsurcharge due. Stephe Insurance Commissioner 2 Exposure Rate