The CMS’s 2022 Medicare Physician Fee Schedule final rule took effect on January 1, 2022, becoming the first major physician payment rule put forward by the Biden administration. The final rule is complex; indeed, it’s 2,414 pages long. While it includes many changes to Medicare policies and programs, overall, the final rule does not represent a major departure from the policies of the previous administration. Value-based reform is a bipartisan initiative that has now been extended through several administrations.