prospective or retrospective application Sec. 2. The rates adopted under this chapter for a hospital licensed under IC 16-21 may be the following: (1) Prospective. (2) Retroactive. (3) A combination of prospective and retroactive. [Pre-1992 Revision Citation: 12-1-7-17.6(c) part.] As added by P.L.2-1992, SEC.9. Amended by P.L.2-1993, SEC.94.