Casey Korba, Director of Policy at Aledade, walks us through regulations that were announced along with the 2025 CMS Medicare Physician Fee Schedule, including updates to the Medicare Shared Savings Program. Casey and our host Sean Cavanaugh, who is the former Director of the Center for Medicare, explain policy changes that will support value-based care, including changes to payments for some preventive care services and a new health equity benchmarking adjustment. While there is bipartisan support for CMS’s goal of moving towards value-based care, they also explore ongoing challenges like the rebasing process and benchmarking standards.