NM HB99

Amends the Medical Malpractice Act to establish tiered damage caps based on provider type: $750,000 for independent providers, $750,000-$1,000,000 for independent outpatient facilities, and $4,000,000-$6,000,000 for hospitals (increasing annually through 2027 with inflation adjustments thereafter)

Limits punitive damages to the applicable monetary damage cap for independent providers and facilities, and to 2.5 times the damage cap for hospitals; punitive damages require clear and convincing evidence of malicious, willful, reckless, fraudulent, or bad faith conduct

Requires Patient's Compensation Fund payments for medical care and related benefits to be made as expenses are incurred rather than in lump sums

Mandates hospitals seeking fund participation must provide eight years of claims and loss data to actuaries, with surcharges set to eliminate any fund deficit by December 31, 2026

Excludes past and future medical care costs from all damage caps, and prohibits punitive damage awards from being paid by the Patient's Compensation Fund