On January 4, 2001, the Health Care Financing Administration (HCFA) released the long-awaited final regulation (the "Final Rule") for the physician self-referral statute known as the "Stark Law." This article provides background on the Stark Law and contrasts it with the Anti-Kickback Statute; it then examines and evaluates the Final Rule in light of the enormously complex health care market. The authors look closely at key statutory terms, particularly the definitions of "Designated Health Services," "Fair Market Value," "Indirect Compensation," and "Group Practice." The article also examines exceptions to each of these items, as well as other exceptions Final Rule.