On July 13, 2023, CMS placed on public display a proposed rule relating to the Medicare physician fee schedule for CY 2024 and other revisions to Medicare Part B policies. The proposed rule was published in the August 7, 2023, issue of the Federal Register. If finalized, policies in the proposed rule generally would take effect on January 1, 2024. The 60-day comment period ended at close of business on September 11, 2023. HFMA is providing a summary in three parts. Part I covers sections I through III.S (except for Section G: Medicare Shared Savings Program Requirements) and the Regulatory Impact Analysis. Part II covers the Medicare Shared Savings Program requirements. Part III covers the updates to the Quality Payment Program, including the Traditional Merit-based Incentive Payment System (MIPS), MIPS Value Pathways, and the Alternative Payment Model incentive.