...Anthony Watchon president of HIP doubled his salary to $4.79 million
New York, NY (PRWEB) April 28, 2009
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".
Dr. Dimitrios Kostopoulos founder of Hands-On Care Physical Therapy stated: "At a time when our country goes through very difficult financial times, when businesses are closing down and people are losing their jobs, to have HIP/EMBLEM CEO Anthony Watchon doubling his salary to 4.79 million dollars while cutting down the reimbursement to Physical Therapy by 20% is an absolute disgrace". Another HIP participating Physical Therapist Jorge Llaurado noted that "...this reduction in reimbursement may lead to a compromise in the quality care that patients receive because therapists may have to see many more patients per hour in order to stay in business".
In a recent youtube video Dr. Kostopoulos emphatically stated: "...but I am saying enough is enough! On Thursday April 30th at 12 noon I will personally deliver to Mr. Watchon my resignation from the panel of providers of HIP. I will be hand-delivering my resignation at HIP headquarters at 55 Water Street in Manhattan. I will be joined by all of my physical therapists, my physical therapy assistants, my staff members and my patients. I invite the people and the media to join us. It is time for all of us to say to these high paid executives who are out of touch of reality with the regular people like you and me that enough is enough. I hope you can join me!"
Helen Alatsas, public relations director for Hands-On Care Physical Therapy reports that their staff, patients and many people from the area will be joining them at the HIP headquarters on Thursday April 30th at 12pm.