The managed care space saw a number of regulatory and legislative developments in 2022 that are shaping the sector as we move further into 2023. Against this backdrop, the healthcare sector itself has continued to transform in response to the demand for improved patient care at lower costs, heightened focus on health equity, and other social and economic issues. Here we review updates across important managed care issue areas—such as risk adjustment, prior authorization and marketing practices—and provide an overview of key market trends. Reviewing managed care developments from the past year can help organizations better understand the broader legal and policy environment and plan for a more productive and effective year ahead.