If economic evaluations are to be used by researchers and healthcare decision makers, they need to be adequately reported. This article discusses the update of the Consolidated Health Economic Evaluation Reporting Standards (CHEERS 2022), the main motivations for the update, the major changes to the CHEERS checklist, and the resources to support its dissemination and use. The update of CHEERS is an important step in increasing transparency in the reporting of economic evaluations. Those in the medical writing community are encouraged to use the CHEERS 2022 guidelines when assisting authors of economic evaluations in communicating their research.