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

January 15, 2016 Bulletin 225 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 oflnsurance in his capacity as administrator of the 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, 2016. PHYSICIANS The surcharge for physicians will increase by 4.3% from the rates effective April 1, 2015, through March 31, 2016. A complete list of physician specialty class codes is published at 760 IAC 1-60-3. CLASS 0 1 2 3 4 5 6 7 8 ANNUAL RATE $2,222.00 $2,963.00 $4,148.00 $5,333.00 $6,667.00 $8,889.00 $13,334.00 $20,741.00 $25,186.00 Stephen HOSPITALS The surcharge for hospitals is shown below and represents an overall 11.2% increase from the rates effective April 1, 2015, through March 31, 2016. The surcharge calculations must be completed with the online filing worksheet which can be accessed at http://www.in.gov/idoi/2607 .htrn. Beds, Hospital (Acute Care and Intensive Care) Mental Health/Rehabilitation Extended Care/Intermediate Care/Residential Nursing Horne/Critical Extended Care Health Institution/ Assisted Living/Other Bassinets Emergency Room (per 100 visits) Clinics/Others (per 100 visits) Mental Health/Rehabilitation (per 100 visits) Health Institution (per 100 visits) Horne Health Care (per 100 visits) Births (per 100) Outpatient Surgeries (per 100) Inpatient Surgeries (per 100) $973.00 $487.00 $49.00 $487.00 $195.00 $973.00 $97.30 $48.65 $24.33 $19.46 $48.65 $3,892.00 $97.30 $1,946.00 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 of surcharge due. Hospitals with more than 500 beds should continue to add a 3% multiplier to the subtotal of surcharge due. Insurance Commissioner 2 Exposure Rate