Healthcare Goes Hi-Tech
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 16 September 2015
⏱️ 17 minutes
🧾️ Download transcript
Summary
Growing use of healthcare IT offers plenty of investing opportunity, but challenges remain and that makes picking the right healthcare IT stock to buy important.
Transcript
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| 0:00.0 | Health Care goes high-tech, this is Industry Focus. |
| 0:04.0 | Hi, everyone, |
| 0:08.0 | Welcome to Industry Focus Healthcare care edition I'm your host |
| 0:14.3 | Christine Hargis and I'm joined today by Motley Fool health care contributor Todd |
| 0:18.2 | Campbell and today we're going to talk about health care IT, information technology in the health care sector. |
| 0:25.0 | And you know, when I think about big trends going on in health care right now, there are plenty that come to mind, |
| 0:31.0 | but one of the really, really huge ones that I think about is IT. |
| 0:36.4 | And this is just an absolutely, ginormous thing to watch going on right now because you've |
| 0:41.6 | got the government pushing for it. |
| 0:44.0 | Back in 2009 as a part of the stimulus bill we had this high-tech act that was passed |
| 0:50.4 | and it basically said here's 25 billion dollars with this we want to promote the |
| 0:57.2 | expansion and the adoption of health information technology and of course that's a pretty vague term right there, but one of the really big efforts within |
| 1:08.0 | Health IT is the establishment of EHRs. |
| 1:12.3 | Now EHRs. H.R.s, these are your electronic health record systems where essentially |
| 1:19.7 | you've got everything that you need to know about a patient stored electronically. |
| 1:24.8 | You've got their patient demographics, their progress notes, drugs, they're taking, problems |
| 1:30.2 | they're having, vital signs. I could go on allergies, immunization dates, any sort of |
| 1:36.0 | medical history or something that a doctor might want to know in a clinical |
| 1:40.3 | setting. The EHR is automate and streamline provider workflow to get all this information together, have |
| 1:47.6 | it in one place, have it digital, and be able to work with it that way. |
| 1:52.2 | So to me this seems like an absolutely huge initiative. |
| 1:57.0 | Todd, where do we stand on it? |
... |
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