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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. Nicholas Tosi
๐Ÿ‘๏ธ
MDIndividual

Nicholas Tosi, MD

NPI: 1891924650
Milwaukee, WI
10 years of data
Ophthalmology
$32.3M
Total Payments
209
Beneficiaries
179.0K
Services
2.44x
Markup Ratio

Peer Comparison

99th
percentile in specialty
This provider$32.3M
Specialty median$383.7K

๐Ÿ“‹ Key Findings

1Billed $32.3M over 10 years
22.44x markup ratio (above median)
399th percentile in Ophthalmology by payments
472 services/day โ€” unusually high
5Payments surged 1880% in 2015
63 procedures with >3x markup

This provider averages 72 services per working day

Based on 179.0K total services over 10 years (250 working days/year). Learn about impossible service volumes โ†’

๐Ÿ”Ž Data Analysis

This provider's $32.3M in total Medicare payments ranks in the 99th percentile of Ophthalmology providers nationally.

Averaging 72 services per working day raises questions about billing patterns.

Medicare payments to this provider grew 10893% from 2014 to 2023.

68% 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 1880% in 2015

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$443.89$81.895.42x$362.00$44.2K54010
2015$372.26$166.892.23x$205.37$875.5K5.2K24
2016$430.61$187.572.30x$243.04$2.8M15.1K24
2017$451.23$192.152.35x$259.08$3.3M17.0K22
2018$447.62$187.592.39x$260.03$3.4M18.3K18
2019$476.83$201.072.37x$275.76$3.7M18.2K22
2020$516.79$215.682.40x$301.11$3.7M17.2K22
2021$501.98$208.922.40x$293.06$4.3M20.7K22
2022$537.12$214.632.50x$322.49$5.3M24.7K25
2023$311.05$115.702.69x$195.35$4.9M42.0K20

Top Procedures (20)

J0178Injection, aflibercept, 1 mg
$21.6M
29.5K services$733.56/svc2.31x markup
J2778Injection, ranibizumab, 0.1 mg
$2.8M
11.0K services$253.61/svc2.76x markup
67028Injection of drug into eyeโš  3.0x markup
$2.8M
32.4K services$85.06/svc3.01x markup
J9035Injection, bevacizumab, 10 mgโš  4.2x markup
$1.2M
21.2K services$56.94/svc4.20x markup
J2777Injection, faricimab-svoa, 0.1 mgโš  3.3x markup
$754.7K
25.9K services$29.11/svc3.32x markup
92134Imaging of retina
$714.2K
24.6K services$28.98/svc1.45x markup
99213Established patient office or other outpatient visit, 20-29 minutes
$322.0K
5.8K services$55.46/svc1.50x markup
J0179Injection, brolucizumab-dbll, 1 mg
$301.9K
1.2K services$248.69/svc2.35x markup
99204New patient office or other outpatient visit, 45-59 minutes
$224.5K
2.0K services$114.29/svc1.44x markup
92235Exam of retinal blood vessels using a special camera after injection of a dye
$174.7K
2.3K services$77.17/svc1.42x markup
67228Destruction of leaking blood vessels of retina using laser
$173.4K
637 services$272.15/svc1.71x markup
67042Removal of membrane of retina with removal of internal limiting membrane of retina
$158.7K
203 services$781.56/svc1.68x markup
67041Removal of membrane of retina
$125.2K
176 services$711.35/svc1.64x markup
67040Destruction of eye fluid (vitreous) between lens and retina and all of retina using a laser
$112.1K
158 services$709.55/svc1.62x markup
67108Repair of detached retina with drainage and removal of eye fluid between lens and retina
$111.8K
143 services$782.02/svc1.91x markup
67113Complex repair of detached retina and drainage of eye fluid between lens and retina
$102.1K
121 services$843.71/svc1.78x markup
92250Photography of the retina
$91.3K
2.5K services$36.21/svc1.48x markup
67036Removal of eye fluid (vitreous) between lens and retina
$86.8K
185 services$469.33/svc2.05x markup
99214Established patient office or other outpatient visit, 30-39 minutes
$83.6K
1.0K services$83.34/svc1.45x markup
92014Eye and medical examination for diagnosis and treatment, established patient, 1 or more visits
$75.7K
874 services$86.57/svc1.42x markup
Show detailed table โ–พ
CodeDescriptionServicesPaymentsAvg/ServiceMarkup
J0178Injection, aflibercept, 1 mg29.5K$21.6M$733.562.31x
J2778Injection, ranibizumab, 0.1 mg11.0K$2.8M$253.612.76x
67028Injection of drug into eye32.4K$2.8M$85.063.01x
J9035Injection, bevacizumab, 10 mg21.2K$1.2M$56.944.20x
J2777Injection, faricimab-svoa, 0.1 mg25.9K$754.7K$29.113.32x
92134Imaging of retina24.6K$714.2K$28.981.45x
99213Established patient office or other outpatient visit, 20-29 minutes5.8K$322.0K$55.461.50x
J0179Injection, brolucizumab-dbll, 1 mg1.2K$301.9K$248.692.35x
99204New patient office or other outpatient visit, 45-59 minutes2.0K$224.5K$114.291.44x
92235Exam of retinal blood vessels using a special camera after injection of a dye2.3K$174.7K$77.171.42x
67228Destruction of leaking blood vessels of retina using laser637$173.4K$272.151.71x
67042Removal of membrane of retina with removal of internal limiting membrane of retina203$158.7K$781.561.68x
67041Removal of membrane of retina176$125.2K$711.351.64x
67040Destruction of eye fluid (vitreous) between lens and retina and all of retina using a laser158$112.1K$709.551.62x
67108Repair of detached retina with drainage and removal of eye fluid between lens and retina143$111.8K$782.021.91x
67113Complex repair of detached retina and drainage of eye fluid between lens and retina121$102.1K$843.711.78x
92250Photography of the retina2.5K$91.3K$36.211.48x
67036Removal of eye fluid (vitreous) between lens and retina185$86.8K$469.332.05x
99214Established patient office or other outpatient visit, 30-39 minutes1.0K$83.6K$83.341.45x
92014Eye and medical examination for diagnosis and treatment, established patient, 1 or more visits874$75.7K$86.571.42x

Markup Analysis

Charge-to-Payment Ratio

2.44x

This provider submits charges 2.44 times higher than what Medicare actually pays.

What This Means

A markup ratio of 2.44x means for every $100 Medicare pays, this provider initially charges $244. This is higher than the national average.

Location

Milwaukee, WI

Provider Verification

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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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