Physician Availability Act of 2008

Physician Availability Act of 2008 - Requires each covered hospital to have a qualified physician available in the hospital 24 hours a day, seven days a week, to attend to the needs of the hospital's inpatients.

Defines a "covered hospital" to: (1) include hospitals participating in Medicare or Medicaid or receiving federal funds; and (2) exclude hospitals in a federal facility or hospitals that the Secretary of Health and Human Services determines have fewer than 100 licensed beds.

Considers a physician to be available if: (1) the physician is physically present in the hospital; (2) the physician's primary responsibility is to be in attendance to serve the needs of the hospital's inpatients without delay; and (3) the physician is not physically present in, assigned to, serving in, or expected to cover the hospital's emergency room or emergency department.

Sets forth penalties for violations.