33405 — Replacement of aortic valve on heart-lung machine
5,010 observed fee-for-service (49%) · ~5,211 estimated Medicare Advantage. Scaled from the observed floor by each state’s fee-for-service share (FFS share as of 2024) — scaled estimate — assumes MA utilization mirrors FFS; not an observation. How we scale
Disclosed Medicare fee-for-service services by billing state; open a bar for that state's ranked market. Average submitted charge / service by billing state, among the highest-volume states; open a bar for that state's ranked market.
- Market position — where this market sits on volume and growth among all state markets, and its rank.
- Worth a look — every state market for this search, ranked by a published score: size, growth, fragmentation, below-expected volume.
- Lookalike opportunities — groups billing below what peers of the same specialty, size, and state predict, with the expected figure shown.
- National benchmarks — where each group's volume sits nationally and within its specialty.
- Market structure — how concentrated this market is, and who owns the volume.
- Medicare-wide scaling — the exact payer split, and this market total scaled to all of Medicare, labeled as an estimate.
Nevvi's market analytics platform — code baskets, market structure and share, the twelve-year trend layer — is built and not launched yet. We're gathering interest in it.
Notify me at launch →| # | Physician group | City | St | Specialty | Providers | 33405 svcs | Submitted charges | Avg charge | Medicare $ locked column | Share* | Phone |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CLEVELAND CLINIC | CLEVELAND | OH | PHYSICIAN ASSISTANT | 6828 | 193 | $3,376,102 | $17,493 | premium | 51.6% | — |
| 2 | HEALTHTEXAS PROVIDER NETWORK | DALLAS | TX | PHYSICIAN ASSISTANT | 2482 | 152 | $1,304,183 | $8,580 | premium | 45.6% | — |
| 3 | PRACTICE ASSOCIATES MEDICAL GROUP | MORRISTOWN | NJ | NURSE PRACTITIONER | 1404 | 124 | $796,318 | $6,422 | premium | 42.8% | (973) 971-5596 |
| 4 | SUTTER VALLEY MEDICAL FOUNDATION | SACRAMENTO | CA | DIAGNOSTIC RADIOLOGY | 2420 | 116 | $727,715 | $6,273 | premium | 19.5% | (916) 681-8852 |
| 5 | NORTHWESTERN MEDICAL FACULTY FOUNDATION | CHICAGO | IL | NURSE PRACTITIONER | 4339 | 101 | $1,338,882 | $13,256 | premium | 33.3% | — |
| 6 | FLORIDA HOSPITAL MEDICAL GROUP INC | MAITLAND | FL | PHYSICIAN ASSISTANT | 1634 | 89 | $335,663 | $3,771 | premium | 17.9% | (407) 200-2700 |
| 7 | ST VINCENT MEDICAL GROUP INC | INDIANAPOLIS | IN | CARDIOVASCULAR DISEASE (CARDIOLOGY) | 718 | 82 | $890,035 | $10,854 | premium | 51.9% | (317) 338-2345 |
| 8 | UNIVERSITY OF ALABAMA HEALTH SERVICES FOUNDATION, PC | BIRMINGHAM | AL | NURSE PRACTITIONER | 2788 | 67 | $674,489 | $10,067 | premium | 50.8% | (205) 934-3460 |
| 9 | LEHIGH VALLEY PHYSICIAN GROUP | ALLENTOWN | PA | PHYSICIAN ASSISTANT | 2389 | 61 | $621,479 | $10,188 | premium | 10.2% | — |
| 10 | WEILL MEDICAL COLLEGE OF CORNELL | NEW YORK | NY | INTERNAL MEDICINE | 2053 | 59 | $1,014,800 | $17,200 | premium | 17.4% | (212) 746-5454 |
| 11 | SCRIPPS HEALTH | LA JOLLA | CA | PHYSICIAN ASSISTANT | 1431 | 58 | $387,911 | $6,688 | premium | 9.8% | (858) 455-9100 |
| 12 | NORTH SHORE-LIJ MEDICAL PC | MANHASSET | NY | PHYSICIAN ASSISTANT | 6294 | 58 | $691,916 | $11,930 | premium | 17.1% | — |
| 13 | UNIVERSITY OF PENN - MEDICAL GROUP | PHILADELPHIA | PA | PHYSICIAN ASSISTANT | 3505 | 57 | $456,627 | $8,011 | premium | 9.5% | (215) 662-2777 |
| 14 | PINNACLE HEALTH CARDIOVASCULAR INSTITUTE INC | MECHANICSBURG | PA | CARDIOVASCULAR DISEASE (CARDIOLOGY) | 113 | 55 | $249,375 | $4,534 | premium | 9.2% | (717) 731-0101 |
| 15 | PROMEDICA CENTRAL PHYSICIANS | TOLEDO | OH | PHYSICIAN ASSISTANT | 794 | 51 | $170,918 | $3,351 | premium | 13.6% | (419) 291-2003 |
| 16 | MAYO CLINIC ARIZONA | PHOENIX | AZ | PHYSICIAN ASSISTANT | 1635 | 50 | $503,740 | $10,075 | premium | 19.2% | (800) 603-0558 |
| 17 | BANNER PHYSICIAN SPECIALISTS ARIZONA LLC | SUN CITY | AZ | PHYSICIAN ASSISTANT | 354 | 50 | $167,650 | $3,353 | premium | 19.2% | (623) 832-4000 |
| 18 | ALLINA HEALTH SYSTEM | MINNEAPOLIS | MN | PHYSICIAN ASSISTANT | 3855 | 50 | $375,945 | $7,519 | premium | 65.8% | (612) 863-4000 |
| 19 | BAPTIST HEALTH MEDICAL GROUP INC | LOUISVILLE | KY | NURSE PRACTITIONER | 2448 | 47 | $179,230 | $3,813 | premium | 63.5% | (502) 928-1050 |
| 20 | MASSACHUSETTS GENERAL PHYSICIANS ORGANIZATION INC | BOSTON | MA | DIAGNOSTIC RADIOLOGY | 3532 | 47 | $705,636 | $15,014 | premium | 24.0% | (617) 724-0287 |
| 21 | HONORHEALTH AMBULATORY | SCOTTSDALE | AZ | PHYSICIAN ASSISTANT | 601 | 45 | $284,578 | $6,324 | premium | 17.2% | — |
| 22 | ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI | NEW YORK | NY | PHYSICIAN ASSISTANT | 2818 | 44 | $756,800 | $17,200 | premium | 12.9% | (212) 241-4812 |
| 23 | CLEVELAND CLINIC | CLEVELAND | PA | PHYSICIAN ASSISTANT | 6828 | 43 | $759,513 | $17,663 | premium | 7.2% | — |
| 24 | BAYSTATE MEDICAL PRACTICES INC | SPRINGFIELD | MA | PHYSICIAN ASSISTANT | 1326 | 42 | $179,955 | $4,285 | premium | 21.4% | — |
| 25 | PROVIDENCE HEALTH AND SERVICES OREGON | PORTLAND | OR | INTERNAL MEDICINE | 1411 | 42 | $244,753 | $5,827 | premium | 40.4% | — |
| 26 | BAYCARE MEDICAL GROUP, INC. | CLEARWATER | FL | CERTIFIED REGISTERED NURSE ANESTHETIST (CRNA) | 1526 | 39 | $224,952 | $5,768 | premium | 7.8% | (727) 725-5060 |
| 27 | ASANTE PHYSICIAN PARTNERS | GRANTS PASS | OR | NURSE PRACTITIONER | 221 | 38 | $225,182 | $5,926 | premium | 36.5% | (541) 507-2290 |
| 28 | IMC-CARDIO-THORACIC AND VASCULAR SURGICAL ASSOCIATES LLC | MOBILE | AL | PHYSICIAN ASSISTANT | 22 | 37 | $125,000 | $3,378 | premium | 28.0% | — |
| 29 | HEART SURGEONS OF KANSAS CITY INC | KANSAS CITY | MO | NURSE PRACTITIONER | 36 | 36 | $158,872 | $4,413 | premium | 26.3% | (816) 932-2000 |
| 30 | PROFESSIONAL SERVICE FUND OF DEBORAH HEART AND LUNG CENTER | BROWNS MILLS | NJ | CARDIOVASCULAR DISEASE (CARDIOLOGY) | 121 | 36 | $210,900 | $5,858 | premium | 12.4% | (609) 893-6611 |
| 31 | MID-ATLANTIC SURGICAL ASSOC. | NEPTUNE | NJ | CARDIAC SURGERY | 5 | 35 | $426,650 | $12,190 | premium | 12.1% | (732) 776-4622 |
| 32 | PHYSICIAN PRACTICES OF MSMC LLC | MIAMI BEACH | FL | INTERNAL MEDICINE | 176 | 34 | $1,031,205 | $30,330 | premium | 6.8% | — |
| 33 | DIGNITY HEALTH MEDICAL FOUNDATION | FOLSOM | CA | DIAGNOSTIC RADIOLOGY | 1197 | 34 | $234,454 | $6,896 | premium | 5.7% | (916) 983-7476 |
| 34 | CARDIOTHORACIC AND VASCULAR SURGICAL ASSOCIATES S C | OAK LAWN | IL | PHYSICIAN ASSISTANT | 48 | 34 | $338,300 | $9,950 | premium | 11.2% | (708) 684-8000 |
| 35 | BOONE PHYSICIAN SERVICES LLC | COLUMBIA | MO | PHYSICIAN ASSISTANT | 236 | 34 | $179,061 | $5,266 | premium | 24.8% | (573) 815-8000 |
| 36 | INOVA HEALTH CARE SERVICES | FALLS CHURCH | VA | NURSE PRACTITIONER | 1818 | 34 | $228,514 | $6,721 | premium | 30.6% | — |
| 37 | CARDIAC SURGERY ASSOCIATES SC | NAPERVILLE | IL | PHYSICIAN ASSISTANT | 48 | 33 | $293,952 | $8,908 | premium | 10.9% | (630) 527-3083 |
| 38 | SMH PHYSICIAN SERVICES INC | SARASOTA | FL | PHYSICIAN ASSISTANT | 766 | 33 | $251,262 | $7,614 | premium | 6.6% | — |
| 39 | NCHMD INC | NAPLES | FL | NEUROLOGY | 515 | 32 | $168,128 | $5,254 | premium | 6.4% | (239) 436-5100 |
| 40 | CHS PHYSICIAN PARTNERS PC | ROSLYN | NY | PHYSICIAN ASSISTANT | 734 | 32 | $256,480 | $8,015 | premium | 9.4% | — |
| 41 | UNIVERSITY OF MARYLAND ST JOSEPH MEDICAL GROUP LLC | TOWSON | MD | NURSE PRACTITIONER | 292 | 32 | $214,059 | $6,689 | premium | 69.6% | (410) 337-4877 |
| 42 | MAIN LINE HEALTHCARE | BRYN MAWR | PA | NURSE PRACTITIONER | 1157 | 32 | $196,800 | $6,150 | premium | 5.3% | — |
| 43 | SANFORD MEDICAL CENTER FARGO | FARGO | ND | NURSE PRACTITIONER | 1198 | 31 | $122,758 | $3,960 | premium | 73.8% | (701) 234-2000 |
| 44 | PRISMA HEALTH UNIVERSITY MEDICAL GROUP | GREENVILLE | SC | NURSE PRACTITIONER | 2447 | 31 | $137,568 | $4,438 | premium | 43.1% | — |
| 45 | NORTH FLORIDA SURGICAL ASSOCIATES LLC | GAINESVILLE | FL | GENERAL SURGERY | 51 | 31 | $275,177 | $8,877 | premium | 6.2% | (352) 333-4000 |
| 46 | UNIVERSITY PHYSICIANS INCORPORATED | AURORA | CO | PHYSICIAN ASSISTANT | 3122 | 31 | $665,601 | $21,471 | premium | 42.5% | (720) 777-1234 |
| 47 | JEFFERSON UNIVERSITY PHYSICIANS | PHILADELPHIA | PA | DIAGNOSTIC RADIOLOGY | 1570 | 30 | $189,000 | $6,300 | premium | 5.0% | — |
| 48 | SAINT AGNES MEDICAL FOUNDATION | FRESNO | CA | INTERNAL MEDICINE | 155 | 30 | $97,597 | $3,253 | premium | 5.1% | (559) 450-5777 |
| 49 | REGENTS UNIV OF CALIFORNIA UCSF | SAN FRANCISCO | CA | PHYSICIAN ASSISTANT | 277 | 30 | $136,955 | $4,565 | premium | 5.1% | (415) 476-1000 |
| 50 | RUTGERS HEALTH-RWJ NEUROSURGERY FACULTY | NEW BRUNSWICK | NJ | PHYSICIAN ASSISTANT | 192 | 30 | $426,690 | $14,223 | premium | 10.3% | (732) 828-3000 |
| 51 | THE MILTON S HERSHEY MEDICAL CENTER PHYSICIANS GROUP | HERSHEY | PA | PHYSICIAN ASSISTANT | 1599 | 30 | $278,397 | $9,280 | premium | 5.0% | (717) 531-5638 |
| 52 | EINSTEIN PRACTICE PLAN INC | PHILADELPHIA | PA | DIAGNOSTIC RADIOLOGY | 740 | 30 | $189,000 | $6,300 | premium | 5.0% | (215) 456-8242 |
| 53 | NUVANCE HEALTH MEDICAL PRACTICE PC | POUGHKEEPSIE | NY | PHYSICIAN ASSISTANT | 578 | 30 | $265,440 | $8,848 | premium | 8.8% | — |
| 54 | ASPIRUS MEDICAL GROUP, INC. | WAUSAU | WI | NURSE PRACTITIONER | 265 | 30 | $566,227 | $18,874 | premium | 24.8% | (715) 847-2611 |
| 55 | STANFORD HEALTH CARE | STANFORD | CA | DIAGNOSTIC RADIOLOGY | 3039 | 29 | $437,175 | $15,075 | premium | 4.9% | (650) 723-4000 |
| 56 | ARKANSAS HEART HOSPITAL LLC | LITTLE ROCK | AR | NURSE PRACTITIONER | 83 | 29 | $121,800 | $4,200 | premium | 40.3% | (501) 664-5860 |
| 57 | PIEDMONT CARDIOLOGY OF ATLANTA, LLC | ATLANTA | GA | PHYSICIAN ASSISTANT | 477 | 29 | $232,725 | $8,025 | premium | 20.7% | (404) 605-5000 |
| 58 | WASHINGTON UNIVERSITY | SAINT LOUIS | MO | NURSE PRACTITIONER | 3070 | 28 | $288,400 | $10,300 | premium | 20.4% | (314) 747-3000 |
| 59 | BEAUMONT MEDICAL GROUP- SPECIALTY SERVICES | ROYAL OAK | MI | PHYSICIAN ASSISTANT | 833 | 28 | $148,120 | $5,290 | premium | 36.4% | (248) 898-5058 |
| 60 | MAYO CLINIC JACKSONVILLE | JACKSONVILLE | FL | NURSE PRACTITIONER | 1587 | 28 | $443,632 | $15,844 | premium | 5.6% | (904) 953-2000 |
| 61 | GEISINGER CLINIC | DANVILLE | PA | PHYSICIAN ASSISTANT | 3426 | 28 | $203,834 | $7,280 | premium | 4.7% | (570) 271-6144 |
| 62 | THE REGENTS OF THE UNIVERSITY OF CALIFORNIA | LOS ANGELES | CA | NURSE PRACTITIONER | 42 | 28 | $435,273 | $15,545 | premium | 4.7% | (310) 825-9111 |
| 63 | UNIVERSITY OF MIAMI | MIAMI | FL | NURSE PRACTITIONER | 2331 | 28 | $70,791 | $2,528 | premium | 5.6% | (305) 689-5437 |
| 64 | HH HEART CENTER, LLC | HUNTSVILLE | AL | CARDIOVASCULAR DISEASE (CARDIOLOGY) | 90 | 28 | $199,640 | $7,130 | premium | 21.2% | (256) 265-2372 |
| 65 | IHC HEALTH SERVICES INC | MURRAY | UT | PHYSICIAN ASSISTANT | 3944 | 28 | $128,312 | $4,583 | premium | 100.0% | (801) 261-8346 |
| 66 | CHRISTIANA CARE HEALTH SERVICES INC | NEWARK | DE | PHYSICIAN ASSISTANT | 1537 | 27 | $183,334 | $6,790 | premium | 100.0% | — |
| 67 | COMMUNITY MEDICAL ASSOCIATES INC | LOUISVILLE | KY | NURSE PRACTITIONER | 1377 | 27 | $126,994 | $4,704 | premium | 36.5% | (502) 937-2209 |
| 68 | SJHMC PHYSICIAN SERVICES | PHOENIX | AZ | NURSE PRACTITIONER | 690 | 27 | $173,988 | $6,444 | premium | 10.3% | (602) 406-6017 |
| 69 | WAKEMED SPECIALISTS GROUP LLC | RALEIGH | NC | PHYSICIAN ASSISTANT | 860 | 27 | $188,271 | $6,973 | premium | 20.3% | (919) 350-7270 |
| 70 | LAFAYETTE HEALTH VENTURES INC | LAFAYETTE | LA | CERTIFIED REGISTERED NURSE ANESTHETIST (CRNA) | 293 | 26 | $154,050 | $5,925 | premium | 63.4% | (337) 289-7374 |
| 71 | HEALTH FIRST MEDICAL GROUP, LLC | MELBOURNE | FL | NURSE PRACTITIONER | 669 | 26 | $124,425 | $4,786 | premium | 5.2% | (321) 434-8878 |
| 72 | DEAN HEALTH SYSTEMS INC | MADISON | WI | PHYSICIAN ASSISTANT | 1200 | 26 | $576,784 | $22,184 | premium | 21.5% | (608) 260-2900 |
| 73 | UNIVERSITY MEDICAL SERVICE ASSOCIATION INC | TAMPA | FL | NURSE PRACTITIONER | 814 | 26 | $465,366 | $17,899 | premium | 5.2% | — |
| 74 | CAROLINAS PHYSICIANS NETWORK INC | CHARLOTTE | NC | PHYSICIAN ASSISTANT | 2360 | 26 | $387,875 | $14,918 | premium | 19.5% | (704) 667-1000 |
| 75 | MONTAGE MEDICAL GROUP | MONTEREY | CA | FAMILY PRACTICE | 125 | 25 | $122,636 | $4,905 | premium | 4.2% | (831) 718-9701 |
| 76 | VANDERBILT UNIVERSITY MEDICAL CENTER | NASHVILLE | TN | NURSE PRACTITIONER | 3394 | 25 | $195,774 | $7,831 | premium | 41.0% | (615) 322-5000 |
| 77 | SUTTER BAY MEDICAL FOUNDATION | PALO ALTO | CA | INTERNAL MEDICINE | 3716 | 25 | $223,778 | $8,951 | premium | 4.2% | (415) 600-1020 |
| 78 | COOPER SURGICAL ASSOCIATES, PA | CAMDEN | NJ | PHYSICIAN ASSISTANT | 303 | 25 | $270,025 | $10,801 | premium | 8.6% | (856) 270-4100 |
| 79 | NORTH CAROLINA MG LLC | RALEIGH | NC | PHYSICIAN ASSISTANT | 674 | 25 | $162,125 | $6,485 | premium | 18.8% | (919) 881-0160 |
| 80 | SAINT THOMAS MEDICAL PARTNERS | NASHVILLE | TN | NURSE PRACTITIONER | 591 | 25 | $136,475 | $5,459 | premium | 41.0% | (615) 269-4545 |
| 81 | WESLEY PHYSICIANS MEDICAL SPECIALTIES LLC | WICHITA | KS | FAMILY PRACTICE | 51 | 25 | $127,938 | $5,118 | premium | 42.4% | (316) 260-1690 |
| 82 | STONY BROOK SURGICAL ASSOCIATES UNIVERSITY FACULTY PRACTICE CORPORATI | HAMPTON BAYS | NY | GENERAL SURGERY | 102 | 25 | $183,664 | $7,347 | premium | 7.4% | (631) 723-5000 |
| 83 | DEACONESS SPECIALTY PHYSICIANS, INC | NEWBURGH | IN | NURSE PRACTITIONER | 207 | 25 | $135,608 | $5,424 | premium | 15.8% | (812) 842-2737 |
| 84 | UNIVERSITY OF PITTSBURGH PHYSICIANS | PITTSBURGH | PA | DIAGNOSTIC RADIOLOGY | 4291 | 24 | $153,223 | $6,384 | premium | 4.0% | — |
| 85 | UNMC PHYSICIANS | OMAHA | NE | PHYSICIAN ASSISTANT | 1514 | 24 | $157,752 | $6,573 | premium | 43.6% | (402) 559-4000 |
| 86 | EISENHOWER MEDICAL CENTER | RANCHO MIRAGE | CA | NURSE PRACTITIONER | 457 | 24 | $139,752 | $5,823 | premium | 4.0% | (760) 340-3911 |
| 87 | DUKE HEALTH INTEGRATED PRACTICE INC | DURHAM | NC | PHYSICIAN ASSISTANT | 3051 | 23 | $208,150 | $9,050 | premium | 17.3% | (919) 684-8111 |
| 88 | BRIGHAM AND WOMENS PHYSICIANS ORGANIZATION INC | BOSTON | RI | PHYSICIAN ASSISTANT | 2942 | 22 | $324,211 | $14,737 | premium | 100.0% | (617) 732-5500 |
| 89 | CEDARS-SINAI MEDICAL CENTER | WEST HOLLYWOOD | CA | NURSE PRACTITIONER | 802 | 22 | $164,918 | $7,496 | premium | 3.7% | (310) 423-3277 |
| 90 | LOYOLA UNIVERSITY MEDICAL CENTER | MAYWOOD | IL | NURSE PRACTITIONER | 933 | 21 | $293,916 | $13,996 | premium | 6.9% | (708) 216-8372 |
| 91 | NORTH MISSISSIPPI MEDICAL CENTER, INC. | TUPELO | MS | CERTIFIED REGISTERED NURSE ANESTHETIST (CRNA) | 361 | 20 | $138,709 | $6,935 | premium | 100.0% | (662) 377-3258 |
| 92 | GWINNETT PHYSICIAN GROUP, LLC | LAWRENCEVILLE | GA | OBSTETRICS/GYNECOLOGY | 120 | 20 | $135,540 | $6,777 | premium | 14.3% | (678) 312-3290 |
| 93 | ASHEVILLE HEART PA | ASHEVILLE | NC | PHYSICIAN ASSISTANT | 19 | 20 | $135,200 | $6,760 | premium | 15.0% | 82825811211122 |
| 94 | CHI HEALTH CLINIC SPECIALTY LLC | LINCOLN | NE | NURSE PRACTITIONER | 309 | 20 | $118,220 | $5,911 | premium | 36.4% | (402) 219-8000 |
| 95 | LAHEY CLINIC INC | BURLINGTON | MA | NURSE PRACTITIONER | 1400 | 20 | $186,372 | $9,319 | premium | 10.2% | — |
| 96 | THE CHRIST HOSPITAL CARDIOVASCULAR ASSOCIATES LLC | CINCINNATI | OH | NURSE PRACTITIONER | 144 | 20 | $116,560 | $5,828 | premium | 5.3% | — |
| 97 | KANSAS HEART HOSPITAL, LLC | WICHITA | KS | NURSE PRACTITIONER | 24 | 19 | $97,078 | $5,109 | premium | 32.2% | (316) 630-5000 |
| 98 | PREMIER HEALTH SPECIALISTS INC | DAYTON | OH | PHYSICIAN ASSISTANT | 574 | 19 | $104,310 | $5,490 | premium | 5.1% | — |
| 99 | BOCACARE INC | BOCA RATON | FL | PHYSICIAN ASSISTANT | 199 | 19 | $171,959 | $9,050 | premium | 3.8% | (561) 955-7100 |
| 100 | WELLSTAR MEDICAL GROUP LLC | MARIETTA | GA | NURSE PRACTITIONER | 3060 | 18 | $102,129 | $5,674 | premium | 12.9% | (770) 422-2004 |
Showing the top 100 of 175 groups — the full ranking is part of the market analytics platform — built, not launched yet. Notify me at launch →
*Share of the state's disclosed Medicare-FFS services for the primary code, counted once per clinician. "St" is the state the volume was billed from: a group appears in each state where its clinicians bill Medicare, with that state's volume and share ("City" is the group's registered location). Group figures sum clinicians affiliated with exactly one group; clinicians in several groups are listed in each group's drill-down but not volume-attributed to any single group, so shares reflect attributable volume. See Methods.
Comparing against an all-payer estimate?
These are exact counts from Medicare fee-for-service claims — roughly a third to half of most procedure markets, depending on payer mix. Modeled all-payer databases project the remainder statistically; we publish the audited floor and label it as such. Same market, different denominator. How the numbers reconcile →