10,905 observed fee-for-service (50%) · ~10,970 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 | 88348 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 | NEPHROPATHOLOGY ASSOCIATES, PLC | LITTLE ROCK | AR | PATHOLOGY | 28 | 3,091 | $331,201 | $107 | premium | 91.5% | (501) 604-2695 |
| 2 | CEDARS-SINAI MEDICAL CARE FOUNDATION | LOS ANGELES | CA | PHYSICIAN ASSISTANT | 1699 | 618 | $166,406 | $269 | premium | 43.2% | (310) 423-0674 |
| 3 | MAYO CLINIC | ROCHESTER | MN | NURSE PRACTITIONER | 4896 | 419 | $171,491 | $409 | premium | 50.4% | (507) 284-2511 |
| 4 | BRIGHAM AND WOMENS PHYSICIANS ORGANIZATION INC | BOSTON | MA | PHYSICIAN ASSISTANT | 2942 | 251 | $80,689 | $321 | premium | 41.9% | (617) 732-5500 |
| 5 | STANFORD HEALTH CARE | STANFORD | CA | DIAGNOSTIC RADIOLOGY | 3039 | 229 | $193,505 | $845 | premium | 16.0% | (650) 723-4000 |
| 6 | MAYO CLINIC ARIZONA | PHOENIX | AZ | PHYSICIAN ASSISTANT | 1635 | 212 | $95,400 | $450 | premium | 58.6% | (800) 603-0558 |
| 7 | UCLA PATHOLOGY AND LABORATORY MEDICINE GROUP | LOS ANGELES | CA | PATHOLOGY | 65 | 171 | $91,080 | $533 | premium | 12.0% | (310) 267-2625 |
| 8 | THE ASSOCIATION OF UNIVERSITY PHYSICIANS | SEATTLE | WA | PHYSICIAN ASSISTANT | 3612 | 170 | $39,627 | $233 | premium | 92.9% | (206) 364-0500 |
| 9 | TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK | NEW YORK | NY | NURSE PRACTITIONER | 2273 | 165 | $116,400 | $705 | premium | 19.4% | (212) 305-8559 |
| 10 | UNIVERSITY OF WISCONSIN MEDICAL FOUNDATION INC | MADISON | WI | PHYSICIAN ASSISTANT | 2523 | 165 | $95,535 | $579 | premium | 73.7% | (608) 287-2050 |
| 11 | NEW YORK UNIVERSITY | NEW YORK | NY | DIAGNOSTIC RADIOLOGY | 5704 | 141 | $92,637 | $657 | premium | 16.6% | (212) 263-9700 |
| 12 | LSU HEALTH SCIENCES CENTER SHREVEPORT FACULTY GROUP PRACTICE | SHREVEPORT | LA | PHYSICIAN ASSISTANT | 589 | 139 | $104,410 | $751 | premium | 80.3% | (318) 675-8700 |
| 13 | METHODIST PATHOLOGY ASSOCIATES PLLC | HOUSTON | TX | PATHOLOGY | 80 | 134 | $11,759 | $88 | premium | 22.7% | (713) 394-6450 |
| 14 | NORTH SHORE-LIJ MEDICAL PC | MANHASSET | NY | PHYSICIAN ASSISTANT | 6294 | 132 | $51,328 | $389 | premium | 15.5% | — |
| 15 | FAIRVIEW EXPRESS CARE | MINNEAPOLIS | MN | PHYSICIAN ASSISTANT | 2007 | 132 | $34,356 | $260 | premium | 15.9% | (612) 672-7422 |
| 16 | PATHOLOGISTS BIO-MEDICAL LABORATORIES PLLC | DALLAS | TX | PATHOLOGY | 48 | 129 | $148,221 | $1,149 | premium | 21.8% | — |
| 17 | UNIVERSITY OF ALABAMA HEALTH SERVICES FOUNDATION, PC | BIRMINGHAM | AL | NURSE PRACTITIONER | 2788 | 127 | $36,068 | $284 | premium | 65.5% | (205) 934-3460 |
| 18 | YALE UNIVERSITY | NEW HAVEN | CT | PHYSICIAN ASSISTANT | 2649 | 126 | $54,810 | $435 | premium | 81.8% | (203) 688-4242 |
| 19 | SOUTH TEXAS PATHOLOGY ASSOCIATES LLP | SAN ANTONIO | TX | PATHOLOGY | 25 | 126 | $113,400 | $900 | premium | 21.3% | (210) 558-6288 |
| 20 | PATHOLOGY SPECIALIST OF ARIZONA, LLP | PHOENIX | AZ | PATHOLOGY | 66 | 125 | $15,310 | $122 | premium | 34.5% | (602) 685-5211 |
| 21 | OSU PATHOLOGY SERVICES, LLC | COLUMBUS | OH | PATHOLOGY | 63 | 117 | $32,760 | $280 | premium | 21.5% | (614) 293-5905 |
| 22 | WEILL MEDICAL COLLEGE OF CORNELL | NEW YORK | NY | INTERNAL MEDICINE | 2053 | 113 | $59,325 | $525 | premium | 13.3% | (212) 746-5454 |
| 23 | MIDWEST DIAGNOSTIC PATHOLOGY, S.C. | PARK RIDGE | IL | PATHOLOGY | 45 | 110 | $18,480 | $168 | premium | 32.4% | (847) 723-2210 |
| 24 | NORTHWESTERN MEDICAL FACULTY FOUNDATION | CHICAGO | IL | NURSE PRACTITIONER | 4339 | 104 | $42,432 | $408 | premium | 30.6% | — |
| 25 | WASHINGTON UNIVERSITY | SAINT LOUIS | MO | NURSE PRACTITIONER | 3070 | 94 | $50,760 | $540 | premium | 41.4% | (314) 747-3000 |
| 26 | VANDERBILT UNIVERSITY MEDICAL CENTER | NASHVILLE | TN | NURSE PRACTITIONER | 3394 | 91 | $20,930 | $230 | premium | 27.8% | (615) 322-5000 |
| 27 | UNIVERSITY OF CALIFORNIA SAN FRANCISCO | SAN FRANCISCO | CA | DIAGNOSTIC RADIOLOGY | 1842 | 86 | $42,312 | $492 | premium | 6.0% | (415) 476-4029 |
| 28 | UNIVERSITY OF CINCINNATI PHYSICIANS COMPANY LLC | CINCINNATI | OH | NURSE PRACTITIONER | 1504 | 85 | $66,895 | $787 | premium | 15.6% | (513) 584-1000 |
| 29 | JOHNS HOPKINS UNIVERSITY | BALTIMORE | MD | NURSE PRACTITIONER | 2900 | 83 | $31,540 | $380 | premium | 45.6% | (410) 502-4340 |
| 30 | UNIVERSITY OF UTAH ADULT SERVICES | SALT LAKE CITY | UT | PHYSICIAN ASSISTANT | 1783 | 83 | $29,348 | $354 | premium | 54.6% | (801) 581-2121 |
| 31 | UNIVERSITY OF PENN - MEDICAL GROUP | PHILADELPHIA | PA | PHYSICIAN ASSISTANT | 3505 | 79 | $57,275 | $725 | premium | 34.6% | (215) 662-2777 |
| 32 | UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT SAN ANTONIO | SAN ANTONIO | TX | PHYSICIAN ASSISTANT | 1326 | 79 | $24,490 | $310 | premium | 13.4% | (210) 450-7044 |
| 33 | DUKE HEALTH INTEGRATED PRACTICE INC | DURHAM | NC | PHYSICIAN ASSISTANT | 3051 | 78 | $39,000 | $500 | premium | 28.9% | (919) 684-8111 |
| 34 | BEAUMONT MEDICAL GROUP HOSPITAL BASED SERVICES | TROY | MI | DIAGNOSTIC RADIOLOGY | 583 | 74 | $81,578 | $1,102 | premium | 42.0% | (248) 964-1187 |
| 35 | UMASS MEMORIAL MEDICAL GROUP INC | WORCESTER | MA | PHYSICIAN ASSISTANT | 2483 | 73 | $30,514 | $418 | premium | 12.2% | (508) 334-1000 |
| 36 | CAROLINAS PATHOLOGY GROUP PA | CHARLOTTE | NC | PATHOLOGY | 50 | 71 | $23,075 | $325 | premium | 26.3% | (704) 304-5988 |
| 37 | STATE UNIVERSITY OF IOWA | IOWA CITY | IA | PHYSICIAN ASSISTANT | 1902 | 70 | $26,926 | $385 | premium | 100.0% | (319) 678-8201 |
| 38 | MAYO CLINIC JACKSONVILLE | JACKSONVILLE | FL | NURSE PRACTITIONER | 1587 | 69 | $31,760 | $460 | premium | 28.8% | (904) 953-2000 |
| 39 | UTAH PATHOLOGY SERVICES INC | MURRAY | UT | PATHOLOGY | 28 | 69 | $21,321 | $309 | premium | 45.4% | (801) 266-0055 |
| 40 | UNIVERSITY PROFESSIONAL SERVICES | PORTLAND | OR | PHYSICIAN ASSISTANT | 1717 | 65 | $21,785 | $335 | premium | 100.0% | (503) 494-8311 |
| 41 | CLEVELAND CLINIC | CLEVELAND | AR | PHYSICIAN ASSISTANT | 6828 | 62 | $9,748 | $157 | premium | 1.8% | — |
| 42 | UNIVERSITY OF MIAMI | MIAMI | FL | NURSE PRACTITIONER | 2331 | 61 | $17,019 | $279 | premium | 25.4% | (305) 689-5437 |
| 43 | ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI | NEW YORK | MA | PHYSICIAN ASSISTANT | 2818 | 61 | $15,982 | $262 | premium | 10.2% | (212) 241-4812 |
| 44 | INOVA HEALTH CARE SERVICES - PATHOLOGY | FAIRFAX | VA | PATHOLOGY | 45 | 54 | $52,974 | $981 | premium | 100.0% | (703) 391-3600 |
| 45 | UNIVERSITY OF CHICAGO | CHICAGO | IL | NURSE PRACTITIONER | 1662 | 54 | $31,054 | $575 | premium | 15.9% | (888) 824-0200 |
| 46 | UNMC PHYSICIANS | OMAHA | MI | PHYSICIAN ASSISTANT | 1514 | 53 | $24,304 | $459 | premium | 30.1% | (402) 559-4000 |
| 47 | UNIVERSITY OF CALIFORNIA SAN FRANCISCO | SAN FRANCISCO | OK | DIAGNOSTIC RADIOLOGY | 1842 | 52 | $25,584 | $492 | premium | 22.9% | (415) 476-4029 |
| 48 | NORTHWESTERN MEDICAL FACULTY FOUNDATION | CHICAGO | GA | NURSE PRACTITIONER | 4339 | 49 | $19,992 | $408 | premium | 54.4% | — |
| 49 | REGENTS OF THE UNIVERSITY OF MICHIGAN | ANN ARBOR | MI | INTERNAL MEDICINE | 3330 | 49 | $22,028 | $450 | premium | 27.8% | (734) 763-5459 |
| 50 | REGENTS OF THE UNIVERSITY OF CALIFORNIA | SAN DIEGO | CA | DIAGNOSTIC RADIOLOGY | 2057 | 49 | $41,797 | $853 | premium | 3.4% | (800) 926-8273 |
| 51 | FACULTY PHYSICIANS AND SURGEONS OF LLUSM | LOMA LINDA | CA | DIAGNOSTIC RADIOLOGY | 1317 | 48 | $11,904 | $248 | premium | 3.4% | — |
| 52 | UNIVERSITY OF ARKANSAS FOR MEDICAL SCIENCES | LITTLE ROCK | AR | NURSE PRACTITIONER | 1241 | 46 | $12,950 | $282 | premium | 1.4% | (501) 686-8000 |
| 53 | UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL | CHAPEL HILL | NC | NURSE PRACTITIONER | 2120 | 46 | $11,220 | $244 | premium | 17.0% | (984) 215-5556 |
| 54 | HENNEPIN HEALTHCARE SYSTEM INC | MINNEAPOLIS | MN | PHYSICIAN ASSISTANT | 895 | 44 | $18,128 | $412 | premium | 5.3% | (612) 873-6963 |
| 55 | USC CARE MEDICAL GROUP INC | LOS ANGELES | CA | DIAGNOSTIC RADIOLOGY | 1374 | 43 | $13,588 | $316 | premium | 3.0% | (800) 872-2273 |
| 56 | TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK | NEW YORK | OH | NURSE PRACTITIONER | 2273 | 42 | $23,670 | $564 | premium | 7.7% | (212) 305-8559 |
| 57 | TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK | NEW YORK | MO | NURSE PRACTITIONER | 2273 | 42 | $29,370 | $699 | premium | 18.5% | (212) 305-8559 |
| 58 | JEFFERSON UNIVERSITY PHYSICIANS | PHILADELPHIA | PA | DIAGNOSTIC RADIOLOGY | 1570 | 42 | $8,190 | $195 | premium | 18.4% | — |
| 59 | HARVARD MEDICAL FACULTY PHYS AT BETH ISRAEL DEACONESS MED CTR INC | BOSTON | MA | INTERNAL MEDICINE | 1689 | 42 | $10,752 | $256 | premium | 7.0% | (781) 983-9088 |
| 60 | THE EMORY CLINIC INC | ATLANTA | GA | NURSE PRACTITIONER | 3484 | 41 | $13,238 | $323 | premium | 45.6% | (404) 778-7525 |
| 61 | REGENTS OF THE UNIV OF CA | SACRAMENTO | CA | DIAGNOSTIC RADIOLOGY | 1608 | 41 | $12,259 | $299 | premium | 2.9% | (877) 827-7463 |
| 62 | UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER AT DALLAS | DALLAS | TX | PHYSICIAN ASSISTANT | 3200 | 41 | $21,976 | $536 | premium | 6.9% | (214) 633-5555 |
| 63 | RUFFOLO HOOPER AND ASSOCIATES MD PA | TAMPA | AL | PATHOLOGY | 44 | 40 | $13,840 | $346 | premium | 20.6% | (813) 971-6000 |
| 64 | PATHOLOGY SCIENCES MEDICAL GROUP PC | NORFOLK | PA | PATHOLOGY | 26 | 39 | $16,809 | $431 | premium | 17.1% | (757) 668-3221 |
| 65 | WAKE FOREST UNIVERSITY HEALTH SCIENCES | WINSTON SALEM | NC | PHYSICIAN ASSISTANT | 2609 | 39 | $50,934 | $1,306 | premium | 14.4% | (336) 713-9800 |
| 66 | MEDICAL FACULTY ASSOCIATES, INC | WASHINGTON | NY | PHYSICIAN ASSISTANT | 685 | 37 | $10,286 | $278 | premium | 4.4% | (202) 715-4000 |
| 67 | LAHEY CLINIC INC | BURLINGTON | MA | NURSE PRACTITIONER | 1400 | 37 | $12,096 | $327 | premium | 6.2% | — |
| 68 | LABORATORY PHYSICIANS ASSOCIATION | DALLAS | MO | PATHOLOGY | 11 | 36 | $20,088 | $558 | premium | 15.9% | (214) 947-7777 |
| 69 | CLEVELAND CLINIC | CLEVELAND | OH | PHYSICIAN ASSISTANT | 6828 | 35 | $25,480 | $728 | premium | 6.4% | — |
| 70 | CLEVELAND CLINIC | CLEVELAND | NY | PHYSICIAN ASSISTANT | 6828 | 35 | $18,292 | $523 | premium | 4.1% | — |
| 71 | ALBANY MEDICAL COLLEGE | ALBANY | NY | PHYSICIAN ASSISTANT | 1070 | 35 | $8,225 | $235 | premium | 4.1% | (518) 262-3277 |
| 72 | UNIVERSITY MEDICAL ASSOCIATES OF THE MEDICAL UNIVERSITY OF SOUTH CAROL | CHARLESTON | SC | PHYSICIAN ASSISTANT | 1692 | 34 | $20,593 | $606 | premium | 100.0% | (843) 792-1414 |
| 73 | UNIVERSITY OF ROCHESTER | ROCHESTER | NY | NURSE PRACTITIONER | 954 | 34 | $19,882 | $585 | premium | 4.0% | (585) 341-7200 |
| 74 | UNIVERSITY OF VERMONT MEDICAL CENTER INC | BURLINGTON | VT | PHYSICIAN ASSISTANT | 1194 | 34 | $11,622 | $342 | premium | 100.0% | (802) 847-0000 |
| 75 | SCOTT AND WHITE CLINIC | TEMPLE | TX | PHYSICIAN ASSISTANT | 2435 | 33 | $16,896 | $512 | premium | 5.6% | (254) 724-2663 |
| 76 | UNIVERSITY OF TOLEDO PHYSICIANS LLC | TOLEDO | OH | PHYSICIAN ASSISTANT | 405 | 31 | $5,821 | $188 | premium | 5.7% | (419) 383-5550 |
| 77 | THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS | CHICAGO | IL | NURSE PRACTITIONER | 1170 | 31 | $12,863 | $415 | premium | 9.1% | — |
| 78 | REGENTS OF THE UNIVERSITY OF CALIFORNIA | ORANGE | CA | PATHOLOGY | 38 | 31 | $10,441 | $337 | premium | 2.2% | (714) 456-7004 |
| 79 | CHILDREN'S HOSPITAL MEDICAL CENTER | CINCINNATI | OH | PEDIATRIC MEDICINE | 721 | 30 | $8,400 | $280 | premium | 5.5% | (513) 636-4200 |
| 80 | UNIVERSITY PATHOLOGISTS LABORATORIES, LLP | SYRACUSE | TX | PATHOLOGY | 25 | 30 | $17,370 | $579 | premium | 5.1% | (315) 464-4750 |
| 81 | UNIVERSITY AT BUFFALO PATHOLOGISTS INC | BUFFALO | TN | PATHOLOGY | 23 | 29 | $2,581 | $89 | premium | 8.9% | (716) 859-5600 |
| 82 | MCV ASSOCIATED PHYSICIANS | RICHMOND | MO | NURSE PRACTITIONER | 1791 | 28 | $8,652 | $309 | premium | 12.3% | (804) 828-9000 |
| 83 | USA HEALTH PHYSICIAN BILLING SERVICES LLC | MOBILE | AL | NURSE PRACTITIONER | 353 | 27 | $10,530 | $390 | premium | 13.9% | (251) 471-7000 |
| 84 | SSM HEALTH CARE GROUP | SAINT LOUIS | MO | NURSE PRACTITIONER | 921 | 27 | $4,320 | $160 | premium | 11.9% | (314) 977-7455 |
| 85 | UNIVERSITY HOSPITALS MEDICAL GROUP INC | CLEVELAND | TN | NURSE PRACTITIONER | 2232 | 26 | $5,434 | $209 | premium | 8.0% | — |
| 86 | WESTCHESTER MEDICAL CENTER ADVANCED PHYSICIAN SERVICES PC | VALHALLA | NY | DIAGNOSTIC RADIOLOGY | 875 | 26 | $8,711 | $335 | premium | 3.1% | — |
| 87 | PATHOLOGY CONSULTANTS OF SOUTH BROWARD, LLP | HOLLYWOOD | FL | PATHOLOGY | 30 | 26 | $9,188 | $353 | premium | 10.8% | (954) 265-2333 |
| 88 | FLORIDA CLINICAL PRACTICE ASSOCIATION INC | GAINESVILLE | PA | NURSE PRACTITIONER | 1912 | 26 | $11,016 | $424 | premium | 11.4% | (352) 265-8990 |
| 89 | BANNER-UNIVERSITY MEDICAL GROUP | TUCSON | AZ | INTERNAL MEDICINE | 1068 | 25 | $5,000 | $200 | premium | 6.9% | (520) 694-0111 |
| 90 | STATE OF MISSISSIPPI - UNIVERSITY OF MISSISSIPPI MEDICAL CENTER | JACKSON | OH | NURSE PRACTITIONER | 951 | 25 | $6,025 | $241 | premium | 4.6% | (601) 815-4775 |
| 91 | GREATER CINCINNATI PATHOLOGISTS INC | CINCINNATI | OH | PATHOLOGY | 21 | 24 | $8,472 | $353 | premium | 4.4% | (513) 585-2000 |
| 92 | BAYSTATE MEDICAL PRACTICES INC | SPRINGFIELD | MA | PHYSICIAN ASSISTANT | 1326 | 23 | $3,826 | $166 | premium | 3.8% | — |
| 93 | CORPATH LTD | COLUMBUS | OH | PATHOLOGY | 26 | 22 | $9,328 | $424 | premium | 4.0% | (614) 566-4945 |
| 94 | ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI | NEW YORK | NY | PHYSICIAN ASSISTANT | 2818 | 22 | $5,764 | $262 | premium | 2.6% | (212) 241-4812 |
| 95 | DARTMOUTH-HITCHCOCK CLINIC | LEBANON | NH | PHYSICIAN ASSISTANT | 1441 | 21 | $37,188 | $1,771 | premium | 100.0% | (603) 650-5000 |
| 96 | LOYOLA UNIVERSITY MEDICAL CENTER | MAYWOOD | IL | NURSE PRACTITIONER | 933 | 20 | $8,160 | $408 | premium | 5.9% | (708) 216-8372 |
| 97 | UNIVERSITY PHYSICIANS INCORPORATED | AURORA | LA | PHYSICIAN ASSISTANT | 3122 | 20 | $6,376 | $319 | premium | 11.6% | (720) 777-1234 |
| 98 | AMERIPATH LUBBOCK 501A CORPORATION | FORT WORTH | TX | PATHOLOGY | 18 | 19 | $8,550 | $450 | premium | 3.2% | (817) 250-5630 |
| 99 | HAWAII PATHOLOGISTS LABORATORY | HONOLULU | HI | PATHOLOGY | 16 | 18 | $2,988 | $166 | premium | 100.0% | (808) 691-4271 |
| 100 | PATHOLOGY LABORATORY ASSOCIATES, INC. | TULSA | OK | PATHOLOGY | 25 | 18 | $2,945 | $164 | premium | 7.9% | (918) 388-5720 |
Showing the top 100 of 103 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 →