With Medicare Advantage now covering more than half of all Medicare beneficiaries, Lynn Nonnemaker and Yamini Kalidindi join Anthony Livshen to unpack MA encounter data – what it is, how complete it's become, and the growing role it's playing in CMS payment policy, quality measurement, and program oversight. The episode explores both current uses and the significant policy shifts that may lie ahead, from disproportionate share hospital payments to risk adjustment.