Beginning April 1, the surcharge rates on medical malpractice insurance for the Patient’s Compensation Fund (PCF) will reflect an increase for physicians of 3.1 percent. Hospitals will see a 15.9 percent increase, according to the Indiana Department of Insurance (IDOI).
Last year the rates increased 13 percent for physicians, mostly due to a settlement of 350 medical malpractice cases against Merrillville physician Mark Weinberger, M.D.
“The Patient’s Compensation Fund is still rebuilding from all the Weinberger cases, and is potentially facing some other large, publicized cases,” noted Julie Reed, ISMA general counsel. “Our constant vigilance in monitoring the Medical Malpractice Act and the Patient’s Compensation Fund is as important as ever.”
Earlier this month, the IDOI announced the current balance in the PCF decreased by 39.3 percent after paying out 75 cases. That leaves a total balance of $60,094,552.
Read the report on the ISMA website.