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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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Methodology•Download Data
  1. Home
  2. Providers
  3. Keshav Panday
⚕️
MDIndividual

Keshav Panday, MD

NPI: 1710171194
Edmond, OK
9 years of data
Rheumatology
$20.1M
Total Payments
269
Beneficiaries
1.1M
Services
6.53x
Markup Ratio

Peer Comparison

99th
percentile in specialty
This provider$20.1M
Specialty median$352.6K

📋 Key Findings

1Billed $20.1M over 9 years
26.53x markup ratio (above median)
399th percentile in Rheumatology by payments
4491 services/day — physically implausible
5Payments surged 7749% in 2018
619 procedures with >3x markup

⚠️ This provider averages 491 services per working day — physically unusual for an individual practitioner

Based on 1.1M total services over 9 years (250 working days/year). Learn about impossible service volumes →

🔎 Data Analysis

This provider's $20.1M in total Medicare payments ranks in the 99th percentile of Rheumatology providers nationally.

Their average markup ratio of 6.53x is significantly above the specialty median of 2.7x.

Averaging 491 services per working day raises questions about billing patterns.

Medicare payments to this provider grew 38761% from 2015 to 2023.

AI-generated analysis based on Medicare payment data.

Annual Medicare Payments

Annual Services Provided

Avg Payment per Service

Markup Ratio Over Time

📈

Notable: Payments increased 7749% in 2018

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 — the gap represents the markup.

YearAvg SubmittedAvg PaidMarkup RatioGap per ServiceTotal PaymentsServicesBeneficiaries
2015$389.47$116.363.35x$273.11$8.5K732
2016$273.28$74.963.65x$198.32$39.7K5298
2017$183.72$49.663.70x$134.06$47.0K94610
2018$115.89$22.735.10x$93.16$3.7M162.2K43
2019$117.22$20.475.73x$96.75$5.7M278.4K48
2020$117.48$19.036.17x$98.45$2.1M108.0K40
2021$111.01$15.007.40x$96.01$2.8M183.9K37
2022$140.26$17.408.06x$122.86$2.5M142.4K39
2023$114.74$14.427.96x$100.32$3.3M228.9K42

Top Procedures (20)

J1745Injection, infliximab, excludes biosimilar, 10 mg⚠ 8.9x markup
$6.8M
159.3K services$42.82/svc8.90x markup
J1602Injection, golimumab, 1 mg, for intravenous use⚠ 7.8x markup
$3.1M
231.7K services$13.58/svc7.84x markup
J0129Injection, abatacept, 10 mg (code may be used for medicare when drug administered under the direct supervision of a physician, not for use when drug is self administered)⚠ 4.8x markup
$3.0M
80.8K services$37.45/svc4.85x markup
J0490Injection, belimumab, 10 mg⚠ 4.6x markup
$1.7M
51.5K services$33.54/svc4.61x markup
J3262Injection, tocilizumab, 1 mg⚠ 4.3x markup
$1.5M
382.4K services$3.88/svc4.29x markup
J9312Injection, rituximab, 10 mg⚠ 5.0x markup
$741.8K
12.3K services$60.07/svc5.03x markup
96413Administration of chemotherapy into vein, 1 hour or less⚠ 3.7x markup
$583.9K
6.0K services$96.56/svc3.68x markup
J0897Injection, denosumab, 1 mg⚠ 4.3x markup
$390.7K
24.3K services$16.08/svc4.30x markup
J1459Injection, immune globulin (privigen), intravenous, non-lyophilized (e.g., liquid), 500 mg⚠ 4.1x markup
$344.8K
9.8K services$35.01/svc4.09x markup
99214Established patient office or other outpatient visit, 30-39 minutes
$247.6K
3.2K services$78.42/svc2.80x markup
J1569Injection, immune globulin, (gammagard liquid), non-lyophilized, (e.g., liquid), 500 mg⚠ 4.5x markup
$239.9K
7.1K services$33.61/svc4.54x markup
J9310Injection, rituximab, 100 mg⚠ 4.5x markup
$192.7K
300 services$642.37/svc4.45x markup
J3111Injection, romosozumab-aqqg, 1 mg⚠ 4.0x markup
$160.9K
20.6K services$7.82/svc4.05x markup
J0491Injection, anifrolumab-fnia, 1 mg⚠ 3.9x markup
$134.2K
10.8K services$12.42/svc3.91x markup
J1561Injection, immune globulin, (gamunex-c/gammaked), non-lyophilized (e.g., liquid), 500 mg⚠ 10.4x markup
$122.7K
3.8K services$32.20/svc10.38x markup
96375Injection of additional new drug or substance into vein⚠ 4.5x markup
$89.5K
7.8K services$11.44/svc4.46x markup
96415Administration of chemotherapy into vein, each additional hour⚠ 3.8x markup
$78.6K
3.7K services$21.04/svc3.75x markup
99204New patient office or other outpatient visit, 45-59 minutes⚠ 3.2x markup
$64.0K
587 services$109.02/svc3.23x markup
96365Infusion into a vein for therapy, prevention, or diagnosis, 1 hour or less⚠ 3.1x markup
$60.8K
1.3K services$47.56/svc3.11x markup
J1720Injection, hydrocortisone sodium succinate, up to 100 mg⚠ 4.0x markup
$53.6K
5.1K services$10.55/svc3.96x markup
Show detailed table ▾
CodeDescriptionServicesPaymentsAvg/ServiceMarkup
J1745Injection, infliximab, excludes biosimilar, 10 mg159.3K$6.8M$42.828.90x
J1602Injection, golimumab, 1 mg, for intravenous use231.7K$3.1M$13.587.84x
J0129Injection, abatacept, 10 mg (code may be used for medicare when drug administered under the direct supervision of a physician, not for use when drug is self administered)80.8K$3.0M$37.454.85x
J0490Injection, belimumab, 10 mg51.5K$1.7M$33.544.61x
J3262Injection, tocilizumab, 1 mg382.4K$1.5M$3.884.29x
J9312Injection, rituximab, 10 mg12.3K$741.8K$60.075.03x
96413Administration of chemotherapy into vein, 1 hour or less6.0K$583.9K$96.563.68x
J0897Injection, denosumab, 1 mg24.3K$390.7K$16.084.30x
J1459Injection, immune globulin (privigen), intravenous, non-lyophilized (e.g., liquid), 500 mg9.8K$344.8K$35.014.09x
99214Established patient office or other outpatient visit, 30-39 minutes3.2K$247.6K$78.422.80x
J1569Injection, immune globulin, (gammagard liquid), non-lyophilized, (e.g., liquid), 500 mg7.1K$239.9K$33.614.54x
J9310Injection, rituximab, 100 mg300$192.7K$642.374.45x
J3111Injection, romosozumab-aqqg, 1 mg20.6K$160.9K$7.824.05x
J0491Injection, anifrolumab-fnia, 1 mg10.8K$134.2K$12.423.91x
J1561Injection, immune globulin, (gamunex-c/gammaked), non-lyophilized (e.g., liquid), 500 mg3.8K$122.7K$32.2010.38x
96375Injection of additional new drug or substance into vein7.8K$89.5K$11.444.46x
96415Administration of chemotherapy into vein, each additional hour3.7K$78.6K$21.043.75x
99204New patient office or other outpatient visit, 45-59 minutes587$64.0K$109.023.23x
96365Infusion into a vein for therapy, prevention, or diagnosis, 1 hour or less1.3K$60.8K$47.563.11x
J1720Injection, hydrocortisone sodium succinate, up to 100 mg5.1K$53.6K$10.553.96x

Markup Analysis

Charge-to-Payment Ratio

6.53x

This provider submits charges 6.53 times higher than what Medicare actually pays.

What This Means

A markup ratio of 6.53x means for every $100 Medicare pays, this provider initially charges $653. This is higher than the national average.

Location

Edmond, OK

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 Rheumatology providers in OK for peer comparison.

Keshav Panday (you)
$20.1M
Craig Carson, M.D.
$72.8M
Show detailed table ▾
ProviderLocationTotal PaymentsStatus
Craig Carson, M.D.Edmond, OK$72.8M✓ Clear

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Data Sources

  • • Centers for Medicare & Medicaid Services (CMS)
  • • Medicare Provider Utilization and Payment Data (2014-2023)
  • • 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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