What is the difference between a phase and a round on the HCG protocol?

It certainly can get a bit confusing when doing research about the HCG protocol online! A round of the HCG protocol consists of distinct phases (or stages): Loading, Very Low Calorie Diet (VLCD), Maintenance 1 (M1), and Maintenance 2 (M2). Different companies and different authors may call these stages by other names – but the concept is the same.  A round is doing all of these phases, in order, one time.