On November 2, 2022, CMS placed on public display a final rule relating to the Medicare physician fee schedule (PFS) for CY 2023 and other revisions to Medicare Part B policies. The final rule is scheduled to be published in the November 18, 2022, issue of the Federal Register. Policies in the final rules will go into effect on January 1, 2023. HFMA is providing a summary in three parts. Part I covers sections I through III.N (except for Section G: Medicare Shared Savings Program Requirements) and the Regulatory Impact Analysis. Part II will cover the Medicare Shared Savings Program Requirements. Part III will cover the updates to the Quality Payment Program. Part II includes policies related to the Medicare Shared Savings Program. These are designed to strengthen financial incentives for long-term participation by modifying the benchmarking methodology, expanding opportunities for certain low revenue ACOs and those serving high risk and dual eligible populations. It also aims to make operational improvements to reduce administrative burden and makes numerous revisions to the quality reporting and the quality performance requirements.