99214 — Established patient office or other outpatient visit with moderate level of decision making, if using time, 30 minutes or more
6,177,572 observed fee-for-service (44%) · ~7,908,006 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
- 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 →Specialty market — Internal Medicine: 292,818 services across 287 groups; top group 9%. See Internal Medicine across all states →
| # | Physician group | City | Specialty | Providers | 99214 svcs | Submitted charges | Avg charge | Medicare $ locked column | Share of specialty* | Share of state* | Phone |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | MEDICAL SPECIALISTS OF THE PALM BEACHES INC | ATLANTIS | INTERNAL MEDICINE | 120 | 26,297 | $6,771,657 | $258 | premium | 9.0% | 0.3% | (561) 295-6962 |
| 2 | LEGACY HEALTHCARE SERVICES INC | DURHAM | INTERNAL MEDICINE | 3859 | 20,263 | $4,167,442 | $206 | premium | 6.9% | 0.2% | (919) 419-9600 |
| 3 | FLORIDA MEDICAL SPECIALISTS LLC | SARASOTA | INTERNAL MEDICINE | 123 | 13,338 | $3,304,975 | $248 | premium | 4.6% | 0.1% | — |
| 4 | ADVENTIST HEALTH SYSTEM-SUNBELT INC | SEBRING | INTERNAL MEDICINE | 107 | 12,628 | $3,786,882 | $300 | premium | 4.3% | 0.1% | (863) 314-4466 |
| 5 | PHYSICIAN PRACTICES OF MSMC LLC | MIAMI BEACH | INTERNAL MEDICINE | 176 | 11,712 | $3,730,090 | $318 | premium | 4.0% | 0.1% | — |
| 6 | INDIAN RIVER PRIMARY CARE | VERO BCH | INTERNAL MEDICINE | 10 | 6,753 | $1,802,574 | $267 | premium | 2.3% | 0.1% | (772) 794-2222 |
| 7 | OPTUMCARE FLORIDA, LLC | LARGO | INTERNAL MEDICINE | 265 | 6,638 | $1,448,898 | $218 | premium | 2.3% | 0.1% | (727) 559-0895 |
| 8 | LAKEVIEW HEALTHCARE SYSTEM, LLC | LEESBURG | INTERNAL MEDICINE | 28 | 5,811 | $1,063,065 | $183 | premium | 2.0% | 0.1% | (352) 460-4004 |
| 9 | FLAGLER MEDICAL ASSOCIATES PA | WEST PALM BEACH | INTERNAL MEDICINE | 9 | 5,743 | $861,450 | $150 | premium | 2.0% | 0.1% | (561) 659-7411 |
| 10 | IMA OF SOUTH FLORIDA LLC | BOCA RATON | INTERNAL MEDICINE | 25 | 4,219 | $1,033,934 | $245 | premium | 1.4% | 0.0% | (561) 883-7770 |
| 11 | PINELLAS COUNTY PRIMARY CARE AND HOSPITALISTS PLLC | CLEARWATER | INTERNAL MEDICINE | 8 | 4,105 | $763,402 | $186 | premium | 1.4% | 0.0% | (727) 443-1122 |
| 12 | SMS DO PA | PORT RICHEY | INTERNAL MEDICINE | 23 | 3,759 | $842,016 | $224 | premium | 1.3% | 0.0% | (727) 868-2151 |
| 13 | ARCADIA MEDICAL ASSOCIATES PA | ARCADIA | INTERNAL MEDICINE | 20 | 3,684 | $935,815 | $254 | premium | 1.3% | 0.0% | (863) 993-2966 |
| 14 | HOSPITALIST SERVICES PLLC | VERO BEACH | INTERNAL MEDICINE | 2 | 3,362 | $504,300 | $150 | premium | 1.1% | 0.0% | (772) 925-8230 |
| 15 | ALLERGY AND RHEUMATOLOGY ASSOCIATES LLC | ST PETERSBURG | INTERNAL MEDICINE | 2 | 3,275 | $671,375 | $205 | premium | 1.1% | 0.0% | (727) 319-4535 |
| 16 | QUALITY HEALTH CARE INC OF FLORIDA | SEBASTIAN | INTERNAL MEDICINE | 2 | 3,212 | $1,037,476 | $323 | premium | 1.1% | 0.0% | (772) 228-8480 |
| 17 | PROFESSIONAL HEALTH CARE OF PINELLAS, LLC | ST PETERSBURG | INTERNAL MEDICINE | 84 | 3,211 | $772,254 | $241 | premium | 1.1% | 0.0% | (727) 322-1054 |
| 18 | FLORIDA HOSPITAL MEDICINE SERVICES, LLC | FORT LAUDERDALE | INTERNAL MEDICINE | 272 | 3,179 | $688,087 | $216 | premium | 1.1% | 0.0% | (954) 355-4400 |
| 19 | PRIMEHEALTH PHYSICIANS LLC | MIAMI | INTERNAL MEDICINE | 33 | 3,062 | $691,407 | $226 | premium | 1.0% | 0.0% | (305) 595-5455 |
| 20 | HEALTHSTONE PRIMARY CARE PARTNERS LLC | HOLLYWOOD | INTERNAL MEDICINE | 12 | 2,825 | $508,295 | $180 | premium | 1.0% | 0.0% | (954) 981-7070 |
| 21 | MANOJ B SHUKLA MD PA | CRYSTAL RIVER | INTERNAL MEDICINE | 6 | 2,823 | $460,149 | $163 | premium | 1.0% | 0.0% | (352) 795-1999 |
| 22 | GESIOTTO,HENRICKS,KORDONOWY,AND SIMMONS,MDS,PA | FORT MYERS | INTERNAL MEDICINE | 3 | 2,715 | $353,709 | $130 | premium | 0.9% | 0.0% | (239) 275-0040 |
| 23 | WEST POINT MEDICAL ASSOCIATES LLC | COCOA | INTERNAL MEDICINE | 2 | 2,560 | $766,240 | $299 | premium | 0.9% | 0.0% | (321) 343-7760 |
| 24 | TUYA PA | SEBASTIAN | INTERNAL MEDICINE | 4 | 2,373 | $474,600 | $200 | premium | 0.8% | 0.0% | (772) 589-0300 |
| 25 | DAVID B HEVERT MD PA | BOCA RATON | INTERNAL MEDICINE | 9 | 2,321 | $462,160 | $199 | premium | 0.8% | 0.0% | (561) 394-3088 |
| 26 | MEDICAL ASSOCIATES OF WEST FL | BAYONET POINT | INTERNAL MEDICINE | 10 | 2,203 | $354,883 | $161 | premium | 0.8% | 0.0% | 7278619800223 |
| 27 | JOHN CANTERBURY PA | NAPLES | INTERNAL MEDICINE | 3 | 2,195 | $439,000 | $200 | premium | 0.7% | 0.0% | (239) 263-2799 |
| 28 | PREMIER MEDICAL ASSOCIATES OF FLORIDA HEALTHCARE, PA | THE VILLAGES | INTERNAL MEDICINE | 64 | 2,162 | $494,284 | $229 | premium | 0.7% | 0.0% | (352) 259-2159 |
| 29 | SHAHUL HAMEED RIAZUDEEN MD PA | WIMAUMA | INTERNAL MEDICINE | 2 | 2,083 | $314,533 | $151 | premium | 0.7% | 0.0% | (813) 633-1100 |
| 30 | QUALITY MEDICAL CARE PA | MELBOURNE | INTERNAL MEDICINE | 5 | 1,983 | $356,729 | $180 | premium | 0.7% | 0.0% | — |
| 31 | SAXON INTERNAL MEDICINE P A | ORANGE CITY | INTERNAL MEDICINE | 2 | 1,940 | $291,000 | $150 | premium | 0.7% | 0.0% | (386) 775-1086 |
| 32 | BOCA RATON PHYSICIANS PA | BOCA RATON | INTERNAL MEDICINE | 4 | 1,933 | $309,720 | $160 | premium | 0.7% | 0.0% | (561) 994-5454 |
| 33 | PATHWAYS CLINICAL PARTNERS, LLC | LEESBURG | INTERNAL MEDICINE | 9 | 1,930 | $289,500 | $150 | premium | 0.7% | 0.0% | (800) 632-6228 |
| 34 | ORMOND INTERNAL MEDICINE LLC | ORMOND BEACH | INTERNAL MEDICINE | 2 | 1,894 | $451,833 | $239 | premium | 0.6% | 0.0% | (386) 673-2133 |
| 35 | REBELLO MEDICAL ASSOCIATES MD PL | DELRAY BEACH | INTERNAL MEDICINE | 3 | 1,729 | $281,194 | $163 | premium | 0.6% | 0.0% | (561) 637-8383 |
| 36 | H2 REHABILITATION SERVICES OF FLORIDA LLC | LAKEWOOD RANCH | INTERNAL MEDICINE | 167 | 1,726 | $351,475 | $204 | premium | 0.6% | 0.0% | (800) 699-9395 |
| 37 | MASTERCARE PHYSICAL THERAPY INC | SARASOTA | INTERNAL MEDICINE | 82 | 1,679 | $317,025 | $189 | premium | 0.6% | 0.0% | (941) 377-6700 |
| 38 | PREMIER MEDICAL CLINIC | TALLAHASSEE | INTERNAL MEDICINE | 2 | 1,672 | $334,400 | $200 | premium | 0.6% | 0.0% | (850) 584-3278 |
| 39 | FLORIDA HEALTHCARE ASSOCIATES PL | BOYNTON BEACH | INTERNAL MEDICINE | 10 | 1,665 | $233,100 | $140 | premium | 0.6% | 0.0% | (561) 733-9690 |
| 40 | MICHELLE D COHEN MD PA | DELRAY BEACH | INTERNAL MEDICINE | 5 | 1,648 | $438,550 | $266 | premium | 0.6% | 0.0% | (561) 894-1001 |
| 41 | MARK G BROOKS M D P A | OCOEE | INTERNAL MEDICINE | 2 | 1,640 | $289,134 | $176 | premium | 0.6% | 0.0% | (407) 578-6610 |
| 42 | JAY MEDICAL PLLC | INDIALANTIC | INTERNAL MEDICINE | 2 | 1,630 | $264,060 | $162 | premium | 0.6% | 0.0% | (321) 473-8974 |
| 43 | HOSPITAL PHYSICIAN SERVICES OF FLORIDA PA | TALLAHASSEE | INTERNAL MEDICINE | 224 | 1,606 | $413,082 | $257 | premium | 0.5% | 0.0% | (850) 325-5000 |
| 44 | PRISAT PA | JACKSONVILLE | INTERNAL MEDICINE | 2 | 1,604 | $240,600 | $150 | premium | 0.5% | 0.0% | (904) 880-8840 |
| 45 | ARTHRITIS AND RHEUMATOLOGY CLINIC PA | JACKSONVILLE | INTERNAL MEDICINE | 2 | 1,535 | $392,868 | $256 | premium | 0.5% | 0.0% | (904) 389-2707 |
| 46 | AIDS HEALTHCARE FOUNDATION | FORT LAUDERDALE | INTERNAL MEDICINE | 97 | 1,534 | $531,791 | $347 | premium | 0.5% | 0.0% | (954) 561-6900 |
| 47 | GULFCOAST MD PA | FORT MYERS | INTERNAL MEDICINE | 2 | 1,499 | $235,946 | $157 | premium | 0.5% | 0.0% | (239) 225-6304 |
| 48 | PULMONARY SPECIALIST OF BOYNTON BEACH | BOYNTON BEACH | INTERNAL MEDICINE | 2 | 1,439 | $244,630 | $170 | premium | 0.5% | 0.0% | (561) 731-2269 |
| 49 | FLORIDA KEYS MEDICAL ASSOCIATES, PA | KEY WEST | INTERNAL MEDICINE | 3 | 1,363 | $628,343 | $461 | premium | 0.5% | 0.0% | (305) 295-3535 |
| 50 | ERACARE PHYSICIANS, LLC | CLERMONT | INTERNAL MEDICINE | 3 | 1,326 | $286,464 | $216 | premium | 0.5% | 0.0% | (352) 708-8211 |
| 51 | LIFETIME MEDICAL ASSOCIATES OF AVENTURA | AVENTURA | INTERNAL MEDICINE | 3 | 1,324 | $352,020 | $266 | premium | 0.5% | 0.0% | (786) 480-5707 |
| 52 | SLEEP-WAKE DISORDER CENTER OF DAYTONA PA | DAYTONA BEACH | INTERNAL MEDICINE | 3 | 1,306 | $228,550 | $175 | premium | 0.4% | 0.0% | (386) 258-7100 |
| 53 | DR LE ADVANCED GASTROENTEROLOGY | SPRING HILL | INTERNAL MEDICINE | 2 | 1,296 | $214,020 | $165 | premium | 0.4% | 0.0% | — |
| 54 | CARLOS A VIZCARRA MD PA | SEBASTIAN | INTERNAL MEDICINE | 2 | 1,274 | $180,829 | $142 | premium | 0.4% | 0.0% | (772) 589-9188 |
| 55 | PCC MEDICAL HOLDINGS LLC | WEST PALM BEACH | INTERNAL MEDICINE | 28 | 1,218 | $252,759 | $208 | premium | 0.4% | 0.0% | (561) 478-8825 |
| 56 | NILAM D SHAH PA | ST PETERSBURG | INTERNAL MEDICINE | 3 | 1,216 | $328,320 | $270 | premium | 0.4% | 0.0% | (727) 388-2625 |
| 57 | COMMUNITY HOSPITALISTS OF PINELLA | CLEARWATER | INTERNAL MEDICINE | 22 | 1,210 | $250,512 | $207 | premium | 0.4% | 0.0% | 7272988496210 |
| 58 | MEDPEDS ASSOCIATES OF SARASOTA | SARASOTA | INTERNAL MEDICINE | 2 | 1,208 | $245,224 | $203 | premium | 0.4% | 0.0% | (941) 955-8800 |
| 59 | AMIR A MALIK MD PA | SAINT AUGUSTINE | INTERNAL MEDICINE | 3 | 1,206 | $303,940 | $252 | premium | 0.4% | 0.0% | (904) 829-8300 |
| 60 | DIANE BRZEZINSKI DO PA | NAPLES | INTERNAL MEDICINE | 2 | 1,181 | $178,565 | $151 | premium | 0.4% | 0.0% | (239) 261-9990 |
| 61 | MANUEL ESPINEL MD PA | DELRAY BEACH | INTERNAL MEDICINE | 2 | 1,160 | $194,870 | $168 | premium | 0.4% | 0.0% | (561) 498-4440 |
| 62 | JOHNSON INTERNAL MEDICINE INC | BOCA RATON | INTERNAL MEDICINE | 3 | 1,149 | $160,845 | $140 | premium | 0.4% | 0.0% | (561) 955-4200 |
| 63 | PERSONAL PHYSICIAN CARE P A | DELRAY BEACH | INTERNAL MEDICINE | 20 | 1,144 | $189,980 | $166 | premium | 0.4% | 0.0% | (561) 498-5660 |
| 64 | NORTH FLORIDA IMMEDIATE CARE CENTER INC | GAINESVILLE | INTERNAL MEDICINE | 10 | 1,143 | $238,173 | $208 | premium | 0.4% | 0.0% | (352) 333-5242 |
| 65 | ADULT MEDICINE OF LAKE COUNTY INC | MOUNT DORA | INTERNAL MEDICINE | 3 | 1,133 | $246,994 | $218 | premium | 0.4% | 0.0% | (352) 383-8222 |
| 66 | PHYSICIANS GROUP OF SOUTH FLORIDA PA | NORTH MIAMI | INTERNAL MEDICINE | 9 | 1,125 | $203,432 | $181 | premium | 0.4% | 0.0% | (305) 674-5925 |
| 67 | CAREMED CLINIC LLC | MARIANNA | INTERNAL MEDICINE | 3 | 1,125 | $280,552 | $249 | premium | 0.4% | 0.0% | (850) 526-3314 |
| 68 | RHG OF FLORIDA PA | MELBOURNE | INTERNAL MEDICINE | 24 | 1,123 | $375,082 | $334 | premium | 0.4% | 0.0% | (321) 752-4100 |
| 69 | NORTHWESTERN MEDICINE FLORIDA MEDICAL GROUP NFP CORPORATION | NAPLES | INTERNAL MEDICINE | 3 | 1,119 | $278,947 | $249 | premium | 0.4% | 0.0% | (312) 926-2000 |
| 70 | SCIOMETRIX INC | MENANDS | INTERNAL MEDICINE | 45 | 1,082 | $199,607 | $184 | premium | 0.4% | 0.0% | (248) 369-3315 |
| 71 | PRIMARY CARE CENTER OF LYNN HAVEN | LYNN HAVEN | INTERNAL MEDICINE | 2 | 1,051 | $192,741 | $183 | premium | 0.4% | 0.0% | (850) 265-3686 |
| 72 | ROSS D. NOCHIMSON, M.D.,P.A. | LAUDERHILL | INTERNAL MEDICINE | 4 | 1,047 | $141,365 | $135 | premium | 0.4% | 0.0% | — |
| 73 | PALM BEACH PHYSICIANS GROUP INC | WEST PALM BCH | INTERNAL MEDICINE | 5 | 1,034 | $149,930 | $145 | premium | 0.4% | 0.0% | (561) 840-4660 |
| 74 | A HELPING HANDS PHYSICIANS GROUP LLC | SANFORD | INTERNAL MEDICINE | 13 | 985 | $119,561 | $121 | premium | 0.3% | 0.0% | (407) 545-6232 |
| 75 | TOTAL MD CARE CORP | ROCKLEDGE | INTERNAL MEDICINE | 2 | 983 | $254,990 | $259 | premium | 0.3% | 0.0% | (321) 222-3607 |
| 76 | SCOTT D MCDOWALL PLLC | ST AUGUSTINE | INTERNAL MEDICINE | 2 | 978 | $158,436 | $162 | premium | 0.3% | 0.0% | (904) 429-9892 |
| 77 | PREMIER HEALTHCARE CENTERS, LP | HOLLYWOOD | INTERNAL MEDICINE | 14 | 961 | $144,150 | $150 | premium | 0.3% | 0.0% | (954) 893-8900 |
| 78 | ON-SITE WOUND CONSULTANTS PA | VILLAGE OF GOLF | INTERNAL MEDICINE | 2 | 945 | $111,123 | $118 | premium | 0.3% | 0.0% | (561) 736-1805 |
| 79 | ASSOCIATES IN MEDICINE LLC | PORT SAINT LUCIE | INTERNAL MEDICINE | 2 | 943 | $189,354 | $201 | premium | 0.3% | 0.0% | (772) 398-5339 |
| 80 | MORSELIFE HOUSING CORPORATION | WEST PALM BEACH | INTERNAL MEDICINE | 2 | 928 | $245,903 | $265 | premium | 0.3% | 0.0% | (561) 578-1173 |
| 81 | ASSOCIATES IN INTERNAL MEDICINE PA | SAINT AUGUSTINE | INTERNAL MEDICINE | 1 | 920 | $228,076 | $248 | premium | 0.3% | 0.0% | — |
| 82 | SHYAM VERMA MD PA | TITUSVILLE | INTERNAL MEDICINE | 2 | 911 | $152,791 | $168 | premium | 0.3% | 0.0% | (321) 267-1164 |
| 83 | BABA HEALTHCARE, INC. | W MELBOURNE | INTERNAL MEDICINE | 3 | 871 | $222,976 | $256 | premium | 0.3% | 0.0% | (321) 956-7370 |
| 84 | SAI MEDICAL CENTER LLC | PINELLAS PARK | INTERNAL MEDICINE | 2 | 854 | $155,428 | $182 | premium | 0.3% | 0.0% | (727) 823-2188 |
| 85 | EXPRESS DOCS, LLC | DELRAY BEACH | INTERNAL MEDICINE | 3 | 854 | $345,678 | $405 | premium | 0.3% | 0.0% | (561) 381-0260 |
| 86 | DR SON L CHAU PA | ORLANDO | INTERNAL MEDICINE | 5 | 847 | $150,900 | $178 | premium | 0.3% | 0.0% | (407) 273-9410 |
| 87 | MUDIT JAIN MD PA | PLANTATION | INTERNAL MEDICINE | 2 | 844 | $211,000 | $250 | premium | 0.3% | 0.0% | (954) 585-6292 |
| 88 | NORTHEAST FLORIDA LUNG CLINIC | JACKSONVILLE | INTERNAL MEDICINE | 3 | 828 | $132,762 | $160 | premium | 0.3% | 0.0% | (904) 853-6154 |
| 89 | THIMMIAH KUMAR MD PA | OCALA | INTERNAL MEDICINE | 2 | 826 | $262,668 | $318 | premium | 0.3% | 0.0% | (352) 304-8986 |
| 90 | DIGESTIVE HEALTH ASSOCIATES PA | OCALA | INTERNAL MEDICINE | 2 | 818 | $132,415 | $162 | premium | 0.3% | 0.0% | 3528401001208 |
| 91 | JAVED HAFEEZ, M.D., P.A. | SUN CITY CENTER | INTERNAL MEDICINE | 2 | 813 | $109,755 | $135 | premium | 0.3% | 0.0% | (813) 634-5502 |
| 92 | OPTIMUM POINT OF CARE PHYSICIANS GROUP LLC | BRADENTON | INTERNAL MEDICINE | 2 | 812 | $174,580 | $215 | premium | 0.3% | 0.0% | 9413451943129 |
| 93 | ALBERTO F VERA PA | ESTERO | INTERNAL MEDICINE | 2 | 810 | $137,700 | $170 | premium | 0.3% | 0.0% | (239) 692-8719 |
| 94 | PULMONARY AND SLEEP MEDICINE OF CLAY PLLC | MIDDLEBURG | INTERNAL MEDICINE | 3 | 797 | $195,648 | $245 | premium | 0.3% | 0.0% | (904) 345-0325 |
| 95 | TRICORD MEDICAL GROUP INC | MIAMI | INTERNAL MEDICINE | 2 | 763 | $171,675 | $225 | premium | 0.3% | 0.0% | (305) 274-8779 |
| 96 | CITRUS PREFERRED CLINIC,LLC | HERNANDO | INTERNAL MEDICINE | 2 | 739 | $169,970 | $230 | premium | 0.3% | 0.0% | (301) 556-6881 |
| 97 | MICHAEL P ROBERTS MD PA | CRESTVIEW | INTERNAL MEDICINE | 4 | 734 | $116,706 | $159 | premium | 0.3% | 0.0% | (850) 689-8100 |
| 98 | CLEMENTE P NUNAG MD PA | WEEKI WACHEE | INTERNAL MEDICINE | 2 | 729 | $102,060 | $140 | premium | 0.2% | 0.0% | (352) 597-9797 |
| 99 | HILLSBORO ALLERGY AND FAMILY MEDICINE INC | DEERFIELD BEACH | INTERNAL MEDICINE | 5 | 655 | $99,933 | $153 | premium | 0.2% | 0.0% | (954) 360-7000 |
| 100 | ST LUCIE MEDICAL ASSOCIATES INC | PORT ST LUCIE | INTERNAL MEDICINE | 2 | 636 | $114,480 | $180 | premium | 0.2% | 0.0% | — |
Showing the top 100 of 3,587 groups — the full ranking is part of the market analytics platform — built, not launched yet. Notify me at launch →
*"Share of specialty" is the group's share of disclosed Medicare-FFS services for the primary code among groups with the SAME modal specialty in the state; "share of state" is the same figure against the whole state. Specialty is each group's modal member specialty from CMS's clinician register — a multi-specialty group carries one label. Where fewer than 11 groups share the specialty in the state, the specialty share renders "—" — the specialty benchmark is suppressed (fewer than 11 groups) and the state share alongside is the benchmark. Group figures sum clinicians affiliated with exactly one group. 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 →