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

William Shultz, M.D.

NPI: 1437357936
Indianapolis, IN
10 years of data
Ophthalmology
$11.3M
Total Payments
25.9K
Beneficiaries
37.8K
Services
8.19x
Markup Ratio

Peer Comparison

98th
percentile in specialty
This provider$11.3M
Specialty median$383.7K

๐Ÿ“‹ Key Findings

1Billed $11.3M over 10 years
28.19x markup ratio (above median)
398th percentile in Ophthalmology by payments
48 procedures with >3x markup
โœ“ No flags detected

๐Ÿ”Ž Data Analysis

This provider's $11.3M in total Medicare payments ranks in the 98th percentile of Ophthalmology providers nationally.

Their average markup ratio of 8.19x is significantly above the specialty median of 2.9x.

64% of their billing comes from a single procedure code (66984 โ€” Removal of cataract with insertion of lens).

AI-generated analysis based on Medicare payment data.

Annual Medicare Payments

Annual Services Provided

Avg Payment per Service

Markup Ratio Over Time

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$2.6K$344.437.43x$2.2K$926.3K3.0K2.2K
2015$2.3K$315.747.37x$2.0K$1.0M3.3K2.4K
2016$3.2K$366.718.69x$2.8K$1.1M3.6K2.6K
2017$2.1K$295.477.23x$1.8K$1.4M4.5K3.1K
2018$2.8K$323.578.61x$2.5K$1.3M4.1K2.9K
2019$1.8K$353.425.12x$1.5K$1.4M4.5K3.0K
2020$1.9K$279.446.75x$1.6K$1.0M3.5K2.3K
2021$2.1K$340.586.25x$1.8K$1.2M4.0K2.6K
2022$2.6K$405.546.46x$2.2K$1.0M3.6K2.4K
2023$2.6K$280.839.22x$2.3K$1.0M3.7K2.4K

Top Procedures (11)

66984Removal of cataract with insertion of lensโš  9.5x markup
$7.2M
19.5K services$370.17/svc9.54x markup
66821Removal of recurring cataract in lens capsule using laserโš  5.3x markup
$3.0M
15.6K services$190.32/svc5.34x markup
66982Removal of cataract with insertion of lensโš  7.9x markup
$887.1K
1.8K services$484.49/svc7.91x markup
0191TInternal insertion of eye fluid drainage device
$110.0K
226 services$486.86/svc2.10x markup
0376TInsertion of eye drainage device
$54.9K
223 services$246.08/svc2.03x markup
65400Removal of growth of cornea
$35.9K
85 services$422.06/svc2.73x markup
66991Extracapsular removal of cataract with insertion of artificial lens and insertion of drainage device in front chamber of eyeโš  10.7x markup
$28.7K
70 services$410.34/svc10.65x markup
66761Creation of eye fluid drainage tracts in iris using laser, per sessionโš  14.1x markup
$12.9K
77 services$167.46/svc14.07x markup
66989Complex extracapsular removal of cataract with insertion of artificial lens and insertion of drainage device in front chamber of eyeโš  3.5x markup
$10.2K
17 services$602.37/svc3.48x markup
99152Use of a drug to induce depression of consciousness by physician performing a procedure (5 years or older), initial 15 minutesโš  16.6x markup
$1.3K
145 services$9.03/svc16.61x markup
92136Measurement of corneal curvature and depth of eyeโš  10.6x markup
$497.11
21 services$23.67/svc10.56x markup
Show detailed table โ–พ
CodeDescriptionServicesPaymentsAvg/ServiceMarkup
66984Removal of cataract with insertion of lens19.5K$7.2M$370.179.54x
66821Removal of recurring cataract in lens capsule using laser15.6K$3.0M$190.325.34x
66982Removal of cataract with insertion of lens1.8K$887.1K$484.497.91x
0191TInternal insertion of eye fluid drainage device226$110.0K$486.862.10x
0376TInsertion of eye drainage device223$54.9K$246.082.03x
65400Removal of growth of cornea85$35.9K$422.062.73x
66991Extracapsular removal of cataract with insertion of artificial lens and insertion of drainage device in front chamber of eye70$28.7K$410.3410.65x
66761Creation of eye fluid drainage tracts in iris using laser, per session77$12.9K$167.4614.07x
66989Complex extracapsular removal of cataract with insertion of artificial lens and insertion of drainage device in front chamber of eye17$10.2K$602.373.48x
99152Use of a drug to induce depression of consciousness by physician performing a procedure (5 years or older), initial 15 minutes145$1.3K$9.0316.61x
92136Measurement of corneal curvature and depth of eye21$497.11$23.6710.56x

Markup Analysis

Charge-to-Payment Ratio

8.19x

This provider submits charges 8.19 times higher than what Medicare actually pays.

What This Means

A markup ratio of 8.19x means for every $100 Medicare pays, this provider initially charges $819. This is higher than the national average.

Location

Indianapolis, IN

Provider Verification

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

Similar Providers

Other Ophthalmology providers in IN for peer comparison.

William Shultz (you)
$11.3M
Drew Sommerville, MD
$35.4M
Show detailed table โ–พ
ProviderLocationTotal PaymentsStatus
Drew Sommerville, MDEvansville, IN$35.4Mโœ“ Clear

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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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