Patient's Comp Fund surcharge for hospitals and physicians

Bulletin 127 PATIENT’S COMPENSATION FUND – SURCHARGE RATES FOR HOSPITALS AND PHYSICIANS November 29, 2004 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 her capacity as administrator of the Patient’s Compensation Fund hereby notifies physicians and hospitals of the following surcharge for qualification under the Medical Malpractice Act. The rates are effective for coverage beginning February 1, 2005. PHYSICIANS The percentage increase to the physician rates is the same for each specialty class. A complete list of physician specialty class codes is published at 760 IAC 1-60. CLASS ANNUAL RATE 0 $2,645 1 3,527 2 4,937 3 6,348 4 7,935 5 10,580 6 15,870 7 24,686 8 29,976 HOSPITALS The surcharge for a hospital is calculated using the attached worksheet. The completed worksheet shall be submitted to the Department along with the surcharge payment. INDIANA DEPARTMENT OF INSURANCE Amy E. Strati, Acting Commissioner HOSPITAL EXPOSURE WORKSHEET FOR SURCHARGE CALCULATION Name of Hospital: ______________________________________________________ License No: __________________________________________________________ List all facilities and/or services operated under the hospital license (as identified on the Department of Health Application for License to Operate a Hospital): _____________________________________________________________________ _____________________________________________________________________ CATEGORY EXPOSURE MANUAL TOTAL Provide # of Beds Category x Manual=Total Hospital (Acute care and Intensive Care) 682.00 Mental Health/Rehabilitation 341.00 Extended Care/Intermediate Care/Residential 34.00 Nursing Home/Critical Extended Care 341.00 Health Institution/Assisted Living/Other 136.00 Bassinets 682.00 # of Visits (in 100s) Emergency Room 68.20 Clinics/Others 34.10 Mental Health/Rehabilitation 17.05 Health Institution 13.64 Home Health Care 34.10 Provide # of Surgeries/Births (in 100s) Births 2,728.00 Outpatient Surgeries 68.20 Inpatient Surgeries 1,364.00 Employed Physicians Sharing Limits 50% of Specialty Code SUB-TOTAL Lack of Risk Management Program 10% Penalty x sub-total Hospital with > 500 beds 3% multiplier of subtotal TOTAL DUE