PR Web -- In a letter to New York based Physical Therapists HIP/EMBLEM insurance announced a 20% reduction in reimbursement rates for physical therapy to be in effect May 1, 2009. The announcement from HIP/EMBLEM comes a few months after a New York Sun report that: "...Anthony Watchon president of HIP doubled his salary to $4.79 million". The same paper reported that $4.79 million is enough to provide healthcare for 12 months to nearly 1,400 people at $3,500 each. The newspaper stated: "This is just a foretaste of what will happen if the state allows it to convert to for-profit corporation".
