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Data Sources: Centers for Medicare & Medicaid Services (CMS), Medicare Provider Utilization and Payment Data
Disclaimer: This site is an independent journalism project. Data analysis and editorial content are not affiliated with or endorsed by CMS or any government agency. All spending figures are based on publicly available Medicare payment records.
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ยฉ 2026 OpenMedicare. Independent data journalism. Built by TheDataProject.ai

Methodologyโ€ขDownload Data
  1. Home
  2. Providers
  3. Sharath Raja
๐Ÿ‘๏ธ
MDIndividual

Sharath Raja, M.D.

NPI: 1417953829
Milwaukee, WI
10 years of data
Ophthalmology
$25.1M
Total Payments
168
Beneficiaries
136.2K
Services
2.33x
Markup Ratio

Peer Comparison

99th
percentile in specialty
This provider$25.1M
Specialty median$383.7K

๐Ÿ“‹ Key Findings

1Billed $25.1M over 10 years
22.33x markup ratio (above median)
399th percentile in Ophthalmology by payments
454 services/day โ€” unusually high
5Payments surged 80% in 2022
64 procedures with >3x markup

This provider averages 54 services per working day

Based on 136.2K total services over 10 years (250 working days/year). Learn about impossible service volumes โ†’

๐Ÿ”Ž Data Analysis

This provider's $25.1M in total Medicare payments ranks in the 99th percentile of Ophthalmology providers nationally.

Averaging 54 services per working day raises questions about billing patterns.

Medicare payments to this provider grew 51% from 2014 to 2023.

71% of their billing comes from a single procedure code (J0178 โ€” Injection, aflibercept, 1 mg).

AI-generated analysis based on Medicare payment data.

Annual Medicare Payments

Annual Services Provided

Avg Payment per Service

Markup Ratio Over Time

๐Ÿ“ˆ

Notable: Payments increased 80% in 2022

Year-over-year payment surges can indicate changes in practice volume, new services, or billing pattern shifts.

Submitted Charges vs. Medicare Payments

Average per-service amounts submitted by the provider compared to what Medicare actually paid โ€” the gap represents the markup.

YearAvg SubmittedAvg PaidMarkup RatioGap per ServiceTotal PaymentsServicesBeneficiaries
2014$357.75$176.652.03x$181.10$2.2M12.2K20
2015$402.05$186.222.16x$215.83$2.0M10.7K19
2016$441.86$197.482.24x$244.38$2.2M10.9K19
2017$489.72$211.662.31x$278.06$2.1M10.0K16
2018$539.13$231.902.32x$307.23$2.6M11.1K17
2019$552.33$239.612.31x$312.72$2.3M9.7K17
2020$586.12$252.332.32x$333.79$2.2M8.8K14
2021$529.82$234.362.26x$295.46$2.2M9.6K15
2022$493.97$200.422.46x$293.55$4.0M20.1K16
2023$260.49$98.252.65x$162.24$3.3M33.2K15

Top Procedures (20)

J0178Injection, aflibercept, 1 mg
$17.7M
23.8K services$740.48/svc2.29x markup
67028Injection of drug into eyeโš  3.0x markup
$1.7M
21.2K services$82.59/svc3.03x markup
J2778Injection, ranibizumab, 0.1 mg
$1.1M
3.7K services$286.39/svc2.33x markup
J2777Injection, faricimab-svoa, 0.1 mgโš  3.3x markup
$781.4K
26.7K services$29.27/svc3.30x markup
92134Imaging of retina
$724.3K
25.0K services$28.97/svc1.46x markup
J9035Injection, bevacizumab, 10 mgโš  4.0x markup
$648.1K
11.7K services$55.43/svc3.95x markup
99213Established patient office or other outpatient visit, 20-29 minutes
$436.2K
8.3K services$52.56/svc1.52x markup
92235Exam of retinal blood vessels using a special camera after injection of a dye
$312.4K
4.1K services$75.47/svc1.46x markup
99204New patient office or other outpatient visit, 45-59 minutes
$300.8K
2.6K services$114.15/svc1.43x markup
J3590Unclassified biologicsโš  3.3x markup
$247.1K
143 services$1.7K/svc3.26x markup
67041Removal of membrane of retina
$136.6K
152 services$898.86/svc1.58x markup
92250Photography of the retina
$127.8K
2.9K services$43.33/svc1.50x markup
67108Repair of detached retina with drainage and removal of eye fluid between lens and retina
$121.7K
131 services$928.70/svc1.59x markup
67228Destruction of leaking blood vessels of retina using laser
$109.4K
351 services$311.61/svc1.50x markup
67042Removal of membrane of retina with removal of internal limiting membrane of retina
$107.2K
116 services$924.06/svc1.38x markup
J7312Injection, dexamethasone, intravitreal implant, 0.1 mg
$103.2K
658 services$156.78/svc2.12x markup
99214Established patient office or other outpatient visit, 30-39 minutes
$92.2K
1.2K services$76.54/svc1.50x markup
92012Eye and medical examination for diagnosis and treatment, established patient
$73.1K
1.3K services$57.01/svc1.48x markup
67040Laser destruction of eye fluid (vitreous) between the lens and retina
$64.9K
75 services$864.82/svc1.40x markup
99203New patient office or other outpatient visit, 30-44 minutes
$47.8K
643 services$74.36/svc1.50x markup
Show detailed table โ–พ
CodeDescriptionServicesPaymentsAvg/ServiceMarkup
J0178Injection, aflibercept, 1 mg23.8K$17.7M$740.482.29x
67028Injection of drug into eye21.2K$1.7M$82.593.03x
J2778Injection, ranibizumab, 0.1 mg3.7K$1.1M$286.392.33x
J2777Injection, faricimab-svoa, 0.1 mg26.7K$781.4K$29.273.30x
92134Imaging of retina25.0K$724.3K$28.971.46x
J9035Injection, bevacizumab, 10 mg11.7K$648.1K$55.433.95x
99213Established patient office or other outpatient visit, 20-29 minutes8.3K$436.2K$52.561.52x
92235Exam of retinal blood vessels using a special camera after injection of a dye4.1K$312.4K$75.471.46x
99204New patient office or other outpatient visit, 45-59 minutes2.6K$300.8K$114.151.43x
J3590Unclassified biologics143$247.1K$1.7K3.26x
67041Removal of membrane of retina152$136.6K$898.861.58x
92250Photography of the retina2.9K$127.8K$43.331.50x
67108Repair of detached retina with drainage and removal of eye fluid between lens and retina131$121.7K$928.701.59x
67228Destruction of leaking blood vessels of retina using laser351$109.4K$311.611.50x
67042Removal of membrane of retina with removal of internal limiting membrane of retina116$107.2K$924.061.38x
J7312Injection, dexamethasone, intravitreal implant, 0.1 mg658$103.2K$156.782.12x
99214Established patient office or other outpatient visit, 30-39 minutes1.2K$92.2K$76.541.50x
92012Eye and medical examination for diagnosis and treatment, established patient1.3K$73.1K$57.011.48x
67040Laser destruction of eye fluid (vitreous) between the lens and retina75$64.9K$864.821.40x
99203New patient office or other outpatient visit, 30-44 minutes643$47.8K$74.361.50x

Markup Analysis

Charge-to-Payment Ratio

2.33x

This provider submits charges 2.33 times higher than what Medicare actually pays.

What This Means

A markup ratio of 2.33x means for every $100 Medicare pays, this provider initially charges $233. This is higher than the national average.

Location

Milwaukee, WI

Provider Verification

Always verify provider credentials and location before scheduling appointments. This data reflects Medicare payments and may not include all practice locations.

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Data Sources

  • โ€ข Centers for Medicare & Medicaid Services (CMS)
  • โ€ข Medicare Provider Utilization and Payment Data (2014-2023)
  • โ€ข National Plan and Provider Enumeration System (NPPES)

Last Updated: February 2026 (data through 2023, the latest CMS release)

Note: All data is from publicly available Medicare records. OpenMedicare is an independent journalism project not affiliated with CMS.

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