U.S. Physical Therapy sees FY13 earnings cut by up to 22c per share on items As previously announced, the American Taxpayer Relief Act of 2012 enacted in January includes provisions which will reduce reimbursement for physical therapy services provided to Medicare patients. The new law increases the multiple procedures payment reduction to 50% effective April 1, 2013. The estimated impact in 2013 to the company from this rate reduction is up to 18c per diluted share. On March 1, 2013, the sequester became effective which calls for an additional 2% cut in Medicare expenditures. The projected effect to the company is to further reduce earnings by approximately 4c per diluted share in 2013.