381,818 observed fee-for-service (49%) · ~390,649 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 payer split, and this market total scaled to all of Medicare, labeled as an estimate.
Or just look at it: nuclear heart imaging (78452) in Arizona is open as a live example — the full paid view, real data.
View the live example →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 activate to sort | City activate to sort | St activate to sort | Specialty activate to sort | Providers activate to sort | 84100 svcs sorted descending — activate to reverse | Submitted charges activate to sort | Avg charge activate to sort | Medicare $ locked column | Share* activate to sort | Phone |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | NORTH SHORE HEMATOLOGY ONCOLOGY ASSOCIATES PC | SMITHTOWN | NY | NURSE PRACTITIONER | 462 | 76,612 | $3,766,079 | $49 | premium | 45.3% | (631) 751-3000 |
| 2 | YUMA KIDNEY AND DIALYSIS SPECIALISTS PC | YUMA | AZ | NURSE PRACTITIONER | 6 | 37,192 | $362,622 | $10 | premium | 26.4% | (928) 388-6138 |
| 3 | HIGHLANDS ONCOLOGY GROUP PA | FAYETTEVILLE | AR | NURSE PRACTITIONER | 79 | 23,986 | $424,375 | $18 | premium | 73.1% | (479) 361-2585 |
| 4 | COASTAL CANCER CENTER LLC | MYRTLE BEACH | SC | RADIATION ONCOLOGY | 22 | 11,855 | $687,590 | $58 | premium | 61.3% | (843) 449-9415 |
| 5 | OKLAHOMA CANCER SPECIALISTS AND RESEARCH INSTITUTE, LLC | TULSA | OK | NURSE PRACTITIONER | 47 | 8,862 | $141,792 | $16 | premium | 28.1% | (918) 505-3200 |
| 6 | MAYO CLINIC ARIZONA | PHOENIX | AZ | PHYSICIAN ASSISTANT | 1635 | 7,037 | $246,295 | $35 | premium | 5.0% | (800) 603-0558 |
| 7 | FLORIDA CANCER SPECIALISTS AND RESEARCH INSTITUTE, LLC | FORT MYERS | FL | HEMATOLOGY/ONCOLOGY | 437 | 5,341 | $96,138 | $18 | premium | 4.2% | (239) 561-9622 |
| 8 | ONCOLOGY SPECIALTIES, P.C. | HUNTSVILLE | AL | NURSE PRACTITIONER | 93 | 4,801 | $115,069 | $24 | premium | 12.0% | (256) 705-4224 |
| 9 | YIUM, SHENOUDA AND MILLER PTRSHP | CHATTANOOGA | TN | NEPHROLOGY | 49 | 4,277 | $121,638 | $28 | premium | 12.9% | (423) 698-0927 |
| 10 | THE NEPHROLOGY GROUP INC | FRESNO | CA | NEPHROLOGY | 51 | 4,209 | $59,852 | $14 | premium | 1.7% | (559) 228-9660 |
| 11 | EASTERN NEPHROLOGY ASSOCIATES PLLC | GREENVILLE | NC | NEPHROLOGY | 77 | 3,868 | $55,003 | $14 | premium | 3.4% | (252) 752-8880 |
| 12 | MID-FLORIDA CANCER CENTERS LLC | ORANGE CITY | FL | HEMATOLOGY/ONCOLOGY | 13 | 3,810 | $55,834 | $15 | premium | 3.0% | (386) 774-1223 |
| 13 | CEDARS-SINAI MEDICAL CARE FOUNDATION | LOS ANGELES | CA | PHYSICIAN ASSISTANT | 1699 | 3,745 | $63,665 | $17 | premium | 1.5% | (310) 423-0674 |
| 14 | TEXAS ONCOLOGY PA | DALLAS | TX | PHYSICIAN ASSISTANT | 995 | 3,591 | $86,184 | $24 | premium | 2.7% | — |
| 15 | CONSOLIDATED MEDICAL PRACTICES OF MEMPHIS,PLLC | MEMPHIS | TN | NURSE PRACTITIONER | 114 | 3,397 | $43,890 | $13 | premium | 10.2% | (901) 261-0700 |
| 16 | BRYAN PHYSICIAN NETWORK | LINCOLN | NE | PHYSICIAN ASSISTANT | 229 | 3,317 | $33,170 | $10 | premium | 43.0% | (402) 481-1111 |
| 17 | LAFAYETTE ARTHRITIS AND ENDOCRINE CLINIC APMC | LAFAYETTE | LA | NURSE PRACTITIONER | 12 | 2,950 | $109,150 | $37 | premium | 23.8% | 3372377801206 |
| 18 | ATRIUS HEALTH INC | BOSTON | MA | NURSE PRACTITIONER | 1196 | 2,850 | $54,150 | $19 | premium | 7.5% | (617) 421-1000 |
| 19 | CLAY PLATTE FAMILY MEDICINE CLINIC | KANSAS CITY | MO | FAMILY PRACTICE | 25 | 2,820 | $28,215 | $10 | premium | 27.1% | (816) 994-8787 |
| 20 | SCKE INC | LAGUNA HILLS | CA | ENDOCRINOLOGY | 20 | 2,681 | $88,473 | $33 | premium | 1.1% | (949) 916-9100 |
| 21 | SAN JUAN ONCOLOGY ASSOCIATES PC | FARMINGTON | NM | HEMATOLOGY/ONCOLOGY | 3 | 2,582 | $56,361 | $22 | premium | 40.0% | (505) 564-6850 |
| 22 | MANALAPAN MEDICAL CENTER PA PC | MANALAPAN | NJ | ENDOCRINOLOGY | 13 | 2,561 | $19,299 | $8 | premium | 1.1% | (732) 845-2200 |
| 23 | LANCASTER CANCER CENTER LTD | LANCASTER | PA | HEMATOLOGY | 4 | 2,327 | $23,270 | $10 | premium | 8.6% | (717) 291-1313 |
| 24 | HORIZON INTERNAL MEDICINE PLLC | HIGH POINT | NC | NURSE PRACTITIONER | 15 | 2,266 | $22,660 | $10 | premium | 2.0% | (336) 610-1300 |
| 25 | NEPHROLOGY AND HYPERTENSION ASSOCIATES LTD | TUPELO | MS | NEPHROLOGY | 19 | 2,260 | $49,720 | $22 | premium | 39.1% | (662) 844-4711 |
| 26 | ARIZONA COMMUNITY PHYSICIANS PC | TUCSON | AZ | FAMILY PRACTICE | 163 | 2,220 | $44,400 | $20 | premium | 1.6% | (520) 547-5725 |
| 27 | VIRGINIA ONCOLOGY ASSOCIATES | NORFOLK | VA | PHYSICIAN ASSISTANT | 123 | 2,215 | $53,051 | $24 | premium | 10.7% | — |
| 28 | DIABETES AND ENDOCRINOLOGY CONSULTANTS, PC | WEST NYACK | NY | ENDOCRINOLOGY | 5 | 2,134 | $85,360 | $40 | premium | 1.3% | (845) 358-6266 |
| 29 | N RAO BOORGU MD PC | FLORENCE | AL | NEPHROLOGY | 5 | 2,013 | $20,130 | $10 | premium | 5.0% | (256) 766-1401 |
| 30 | PINEHURST MEDICAL CLINIC INC | PINEHURST | NC | PHYSICIAN ASSISTANT | 156 | 1,965 | $55,020 | $28 | premium | 1.8% | (910) 295-5511 |
| 31 | BAPTIST HEALTH | LITTLE ROCK | AR | NURSE PRACTITIONER | 106 | 1,958 | $35,280 | $18 | premium | 6.0% | (501) 227-7596 |
| 32 | NICHOLAS R HALPER MD PC | ROCKVILLE CENTRE | NY | FAMILY PRACTICE | 7 | 1,905 | $52,235 | $27 | premium | 1.1% | (516) 536-2221 |
| 33 | MICHIGAN HEALTHCARE PROFESSIONALS PC | FARMINGTON HILLS | MI | INTERNAL MEDICINE | 518 | 1,883 | $18,830 | $10 | premium | 6.6% | (248) 477-0552 |
| 34 | HUNTERDON HEMATOLOGY ONCOLOGY, LLC | FLEMINGTON | NJ | HEMATOLOGY/ONCOLOGY | 7 | 1,797 | $39,534 | $22 | premium | 0.7% | (908) 237-1201 |
| 35 | COLONIAL FAMILY PRACTICE LLC | SUMTER | SC | DIAGNOSTIC RADIOLOGY | 57 | 1,796 | $25,539 | $14 | premium | 9.3% | (803) 773-5227 |
| 36 | CANCER CENTER OF KANSAS PA | WICHITA | KS | HEMATOLOGY/ONCOLOGY | 27 | 1,782 | $40,986 | $23 | premium | 8.2% | (316) 262-4467 |
| 37 | AMERICAN ONCOLOGY PARTNERS PA | FORT WAYNE | FL | HEMATOLOGY/ONCOLOGY | 333 | 1,730 | $25,950 | $15 | premium | 1.4% | (260) 484-8830 |
| 38 | RHEUMATOLOGY CONSULTANTS, LLP | HEWLETT | NY | RHEUMATOLOGY | 10 | 1,687 | $33,760 | $20 | premium | 1.0% | (516) 295-4481 |
| 39 | PAIN TREATMENT CENTERS OF AMERICA PLLC | LITTLE ROCK | AR | NURSE PRACTITIONER | 69 | 1,677 | $15,289 | $9 | premium | 5.1% | — |
| 40 | MEDSTAR MEDICAL GROUP - SOUTHERN MARYLAND LLC | HOLLYWOOD | MD | INTERNAL MEDICINE | 236 | 1,660 | $41,500 | $25 | premium | 6.8% | — |
| 41 | DIABETES AND GLANDULAR DISEASE CLINIC PA | SAN ANTONIO | TX | ENDOCRINOLOGY | 9 | 1,582 | $20,566 | $13 | premium | 1.2% | (210) 614-8612 |
| 42 | RAVI PATEL M D INC | BAKERSFIELD | CA | HEMATOLOGY/ONCOLOGY | 20 | 1,574 | $26,758 | $17 | premium | 0.6% | (661) 322-2206 |
| 43 | ISLAND PRIMARY MEDICAL CARE ASSOCIATES PC | MASSAPEQUA | NY | INTERNAL MEDICINE | 5 | 1,560 | $18,720 | $12 | premium | 0.9% | (516) 798-1116 |
| 44 | NAUSHIN SIDDIQUI PHYSICIAN PC | EAST MEADOW | NY | INTERNAL MEDICINE | 2 | 1,506 | $30,213 | $20 | premium | 0.9% | (516) 481-2000 |
| 45 | ENDOCRINOLOGY CONSULTANTS, PC | ENGLEWOOD | NJ | ENDOCRINOLOGY | 9 | 1,485 | $28,865 | $19 | premium | 0.6% | (201) 567-8999 |
| 46 | BARNABAS HEALTH MEDICAL GROUP PC | LIVINGSTON | NJ | NURSE PRACTITIONER | 990 | 1,473 | $29,460 | $20 | premium | 0.6% | — |
| 47 | DUPAGE MEDICAL GROUP LTD | GLEN ELLYN | IL | PHYSICIAN ASSISTANT | 1323 | 1,353 | $33,825 | $25 | premium | 3.5% | (630) 469-9200 |
| 48 | CAREMED PRIMARY AND URGENT CARE PC | PATCHOGUE | NY | NURSE PRACTITIONER | 21 | 1,338 | $33,450 | $25 | premium | 0.8% | (631) 475-3900 |
| 49 | WHITE-WILSON MEDICAL CENTER PA | FORT WALTON BEACH | FL | NURSE PRACTITIONER | 45 | 1,333 | $18,662 | $14 | premium | 1.0% | (850) 863-8150 |
| 50 | DR F GEOFFERY CONNER PC | VIDALIA | GA | NURSE PRACTITIONER | 5 | 1,280 | $19,200 | $15 | premium | 4.6% | (912) 537-9488 |
| 51 | MANALAPAN MEDICAL CENTER PA PC | MANALAPAN | NY | ENDOCRINOLOGY | 13 | 1,265 | $9,361 | $7 | premium | 0.7% | (732) 845-2200 |
| 52 | CANCER SPECIALISTS LLC | JACKSONVILLE | FL | HEMATOLOGY/ONCOLOGY | 46 | 1,260 | $13,816 | $11 | premium | 1.0% | (904) 516-3737 |
| 53 | ENDOCRINE AND DIABETES PA | LIVINGSTON | NJ | ENDOCRINOLOGY | 2 | 1,236 | $8,565 | $7 | premium | 0.5% | (973) 322-7200 |
| 54 | OKLAHOMA CANCER SPECIALISTS AND RESEARCH INSTITUTE, LLC | TULSA | TX | NURSE PRACTITIONER | 47 | 1,227 | $19,632 | $16 | premium | 0.9% | (918) 505-3200 |
| 55 | IK MEDICAL PC | BROOKLYN | NY | CARDIOVASCULAR DISEASE (CARDIOLOGY) | 3 | 1,221 | $30,525 | $25 | premium | 0.7% | (718) 759-0105 |
| 56 | SUMMIT MEDICAL GROUP PA | BERKELEY HEIGHTS | NJ | PHYSICIAN ASSISTANT | 1183 | 1,202 | $24,040 | $20 | premium | 0.5% | (908) 273-4300 |
| 57 | ST VINCENT MEDICAL GROUP | LITTLE ROCK | AR | FAMILY PRACTICE | 247 | 1,167 | $15,171 | $13 | premium | 3.6% | (501) 562-4838 |
| 58 | QUICK PRIMARY CARE, PA | OCALA | FL | FAMILY PRACTICE | 4 | 1,149 | $13,788 | $12 | premium | 0.9% | (352) 854-9110 |
| 59 | BORO PARK MEDICAL PC | BROOKLYN | NY | INTERNAL MEDICINE | 5 | 1,145 | $28,625 | $25 | premium | 0.7% | (718) 436-1600 |
| 60 | ADVOCATE HEALTH AND HOSPITALS CORPORATION | BUFFALO GROVE | IL | NURSE PRACTITIONER | 3045 | 1,133 | $30,583 | $27 | premium | 3.0% | (847) 459-1160 |
| 61 | JPB MEDICAL GROUP INC | VAN NUYS | CA | INTERNAL MEDICINE | 4 | 1,120 | $27,985 | $25 | premium | 0.5% | (818) 785-0300 |
| 62 | OPTUM MEDICAL CARE PC | MOUNT KISCO | NY | INTERNAL MEDICINE | 1040 | 1,078 | $12,964 | $12 | premium | 0.6% | (914) 241-1050 |
| 63 | AMARILLO MEDICAL SPECIALISTS,LLP | AMARILLO | TX | NURSE PRACTITIONER | 37 | 1,073 | $17,988 | $17 | premium | 0.8% | (806) 358-8331 |
| 64 | STATE UNIVERSITY OF IOWA | IOWA CITY | IA | PHYSICIAN ASSISTANT | 1902 | 1,061 | $13,793 | $13 | premium | 15.1% | (319) 678-8201 |
| 65 | WASHINGTON UNIVERSITY | SAINT LOUIS | MO | NURSE PRACTITIONER | 3070 | 1,056 | $26,400 | $25 | premium | 10.2% | (314) 747-3000 |
| 66 | SUTTER BAY MEDICAL FOUNDATION | PALO ALTO | CA | INTERNAL MEDICINE | 3716 | 1,043 | $33,376 | $32 | premium | 0.4% | (415) 600-1020 |
| 67 | PRINE HEALTH MEDICAL GROUP, PLLC | MANHASSET | NY | NEPHROLOGY | 75 | 1,035 | $12,266 | $12 | premium | 0.6% | (516) 407-2727 |
| 68 | CENTER FOR RHEUMATOLOGY MEDICAL CORPORATION | LOS ANGELES | CA | RHEUMATOLOGY | 9 | 1,027 | $20,540 | $20 | premium | 0.4% | (310) 659-7878 |
| 69 | MILLENNIUM PHYSICIAN GROUP LLC | PORT CHARLOTTE | FL | PHYSICIAN ASSISTANT | 953 | 1,021 | $9,679 | $9 | premium | 0.8% | (941) 255-3535 |
| 70 | VMD PRIMARY PROVIDERS EASTERN MICHIGAN PC | NOVI | MI | PHYSICIAN ASSISTANT | 64 | 1,006 | $9,054 | $9 | premium | 3.5% | — |
| 71 | ONCOLOGY-HEMATOLOGY ASSOCIATES OF CENTRAL ILLINOIS P C | PEORIA | IL | NURSE PRACTITIONER | 62 | 1,006 | $36,458 | $36 | premium | 2.6% | (309) 243-3000 |
| 72 | ENDOCRINE ASSOCIATE OF WEST VILLAGE PC | NEW YORK | NY | NURSE PRACTITIONER | 12 | 1,004 | $21,101 | $21 | premium | 0.6% | (212) 675-9332 |
| 73 | CRYSTAL RUN HEALTHCARE PHYSICIANS LLP | MIDDLETOWN | NY | NURSE PRACTITIONER | 372 | 995 | $14,925 | $15 | premium | 0.6% | (845) 703-6999 |
| 74 | CENTRAL OHIO PRIMARY CARE PHYSICIANS, INC. | COLUMBUS | OH | INTERNAL MEDICINE | 495 | 975 | $20,475 | $21 | premium | 2.3% | (614) 451-9612 |
| 75 | LESTER E COX MEDICAL CENTERS | SPRINGFIELD | MO | PHYSICIAN ASSISTANT | 251 | 955 | $22,570 | $24 | premium | 9.2% | (417) 875-3000 |
| 76 | TENNESSEE ONCOLOGY PLLC | NASHVILLE | TN | HEMATOLOGY/ONCOLOGY | 360 | 933 | $8,421 | $9 | premium | 2.8% | (615) 385-3751 |
| 77 | UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT SAN ANTONIO | SAN ANTONIO | TX | PHYSICIAN ASSISTANT | 1326 | 933 | $13,062 | $14 | premium | 0.7% | (210) 450-7044 |
| 78 | LEGACY HEALTHCARE SERVICES INC | DURHAM | NC | INTERNAL MEDICINE | 3859 | 928 | $25,984 | $28 | premium | 0.8% | (919) 419-9600 |
| 79 | EAST COAST MEDICAL ASSOCIATES, INC. | BOCA RATON | FL | ENDOCRINOLOGY | 6 | 913 | $9,098 | $10 | premium | 0.7% | (561) 391-1085 |
| 80 | CLEVELAND CLINIC | CLEVELAND | OH | PHYSICIAN ASSISTANT | 6828 | 897 | $25,116 | $28 | premium | 2.1% | — |
| 81 | BIRMINGHAM HEMATOLOGY ONCOLOGY ASSOC LLC | BIRMINGHAM | AL | MEDICAL ONCOLOGY | 31 | 881 | $15,858 | $18 | premium | 2.2% | (205) 592-5077 |
| 82 | PIONEER MEDICAL ASSOCIATES PC | WARREN | MI | INTERNAL MEDICINE | 23 | 870 | $13,050 | $15 | premium | 3.1% | (586) 573-5890 |
| 83 | HUDSON MD GROUP | FORT LEE | NJ | INTERNAL MEDICINE | 107 | 867 | $17,340 | $20 | premium | 0.4% | (201) 224-0011 |
| 84 | MAGNOLIA MEDICAL CLINIC P.A. | FORT WALTON BEACH | FL | FAMILY PRACTICE | 10 | 849 | $16,980 | $20 | premium | 0.7% | (850) 243-7681 |
| 85 | LEGACY HEALTHCARE SERVICES INC | DURHAM | FL | INTERNAL MEDICINE | 3859 | 821 | $16,420 | $20 | premium | 0.6% | (919) 419-9600 |
| 86 | IMC-DIAGNOSTIC AND MEDICAL CLINIC LLC | MOBILE | AL | INTERNAL MEDICINE | 167 | 811 | $8,110 | $10 | premium | 2.0% | — |
| 87 | GULFVIEW MEDICAL INSTITUTE PLLC | PORT CHARLOTTE | FL | NURSE PRACTITIONER | 5 | 798 | $7,638 | $10 | premium | 0.6% | (941) 505-2100 |
| 88 | PREVENTIVE MEDICINE ASSOCIATES LLC | CAMILLUS | NY | NURSE PRACTITIONER | 8 | 774 | $11,610 | $15 | premium | 0.5% | (315) 487-8109 |
| 89 | VANTAGE MEDICAL ASSOCIATES PC | FAR ROCKAWAY | NY | NURSE PRACTITIONER | 56 | 769 | $15,380 | $20 | premium | 0.5% | (516) 792-1600 |
| 90 | RONALD C FAGAN MD PC | FARMINGDALE | NY | INTERNAL MEDICINE | 4 | 762 | $19,050 | $25 | premium | 0.5% | (516) 752-7000 |
| 91 | MIDWEST NEPHROLOGY GROUP PLLC | MIDWEST CITY | OK | NEPHROLOGY | 5 | 759 | $12,243 | $16 | premium | 2.4% | (405) 737-4900 |
| 92 | CHS PHYSICIAN PARTNERS PC | ROSLYN | NY | PHYSICIAN ASSISTANT | 734 | 731 | $36,550 | $50 | premium | 0.4% | — |
| 93 | ENDOCRINOLOGY ASSOCIATES P A DTD | SCOTTSDALE | AZ | ENDOCRINOLOGY | 10 | 727 | $9,451 | $13 | premium | 0.5% | (602) 266-8463 |
| 94 | EPMED, PA | EL PASO | TX | ANESTHESIOLOGY | 21 | 719 | $14,380 | $20 | premium | 0.5% | — |
| 95 | MICHIGAN INSTITUTE OF UROLOGY PC | SAINT CLAIR SHORES | MI | UROLOGY | 84 | 708 | $10,620 | $15 | premium | 2.5% | (586) 771-4820 |
| 96 | NORTHWEST ONCOLOGY AND HEMATOLOGY SC | ROLLING MEADOWS | IL | HEMATOLOGY/ONCOLOGY | 22 | 678 | $20,240 | $30 | premium | 1.8% | (847) 870-4100 |
| 97 | WESTCHESTER MEDICAL GROUP, P.C | WHITE PLAINS | NY | INTERNAL MEDICINE | 409 | 677 | $32,941 | $49 | premium | 0.4% | (914) 682-0700 |
| 98 | SUMMIT MEDICAL GROUP, PLLC | KNOXVILLE | TN | FAMILY PRACTICE | 622 | 673 | $7,573 | $11 | premium | 2.0% | (865) 938-3627 |
| 99 | CARDIOVASCULAR CARE INC | LOS ALAMITOS | CA | CARDIOVASCULAR DISEASE (CARDIOLOGY) | 6 | 662 | $7,282 | $11 | premium | 0.3% | (562) 594-1772 |
| 100 | TIDEWATER PHYSICIANS MULTISPECIALTY GROUP, PC | NEWPORT NEWS | VA | FAMILY PRACTICE | 274 | 643 | $10,931 | $17 | premium | 3.1% | (757) 595-9880 |
Showing the top 100 of 485 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 →