Patient's Compensation Fund

Indiana Department oflnsurance February 13, 2024 Bulletin 273 PATIENT'S COMPENSATION FUND 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. Surcharge Rates for Hospitals and Physicians Pursuant to IC 34-18-5-2, the Commissioner ofthe Department of Insurance in her capacity as administrator of the Patient's Compensation Fund, hereby notifies physicians and hospitals of the following surcharge for qualification under the Act. The rates are effective for coverage beginning July 1, 2024. PHYSICIANS The overall effective surcharge for physicians will increase by 4.2%. A complete list of physician specialty class codes is published at 760 IAC 1-60-3. CLASS ANNUAL RATE 0 $2,130 1 $3,043 2 $3,956 3 $5,174 4 $6,090 5 $8,370 6 $12,936 7 $18,262 8 $22,827 9 $25,870 HOSPITALS The surcharge for hospitals is shown below and represents a 2% increase from the current effective rates. 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) $1,048.00 Mental Health/Rehabilitation $524.00 Extended Care/Intermediate Care/Residential $53.00 Nursing Home/Critical Extended Care $524.00 Health Institution/ Assisted Living/Other $210.00 Exposure Rate Bassinets $1,048.00 Emergencv Room foer 100 visits) $104.80 Clinics/Others foer 100 visits) $52.40 Mental Health/Rehabilitation (oer 100 visits) $26.00 Health Institution rner 100 visits) $21.00 Home Health Care foer 100 visits) $52.40 Births (ner 100) $4,196.00 Outnatient Suri,eries ( ner 100) $104.80 Inpatient Surgeries (ner 100) $2,097.00 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. INDIANA DEPARTMENT OF INSURANCE ~[~ Commissioner, Indiana Depmtment of Insurance 2