Indiana Department of Insurance Announces Lower Medical Malpractice Rates in 2008

Chrissie Cole

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The Indiana Department of Justice (IDOI) recently announced, effective March 1, 2008, the Patient's Compensation Fund (PCF) surcharge rates will be lowered by 19.1 percent for doctors and 1.3 percent for hospitals.

This is the first medical malpractice insurance reduction for hospitals and doctors since the PCF's launch in 1976. The recent reductions are attributed to an increase in efficiencies in the PCF administration and to health care providers over recent years that worked to rebuild the PCF's balance.

IDOI also cited recent rulings from Indiana's courts as a contributing factor for the overall decrease in rates.

The PCF was founded in 1976 to provide compensation to patients severely injured by medical malpractice and is administered by the IDOI. The PCF is funded solely through surcharge payments by Indiana health care providers. Participation is voluntary and open to all persons and entities providing health care in Indiana. PCF members receive excess coverage of $1,000,000 above their underlying responsibility for the first $250,000 in coverage.

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