Healthcare's Trick or Treat's: What We're Watching in October
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 30 September 2015
⏱️ 17 minutes
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Summary
The highly anticipated switch over to ICD-10 medical coding kicks October off and a FDA decision later in the month could move the needle at Shire Plc.
Transcript
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| 0:00.0 | What to watch in October? This is Industry Focus. |
| 0:04.0 | Welcome to Industry Focus Health Care Edition. |
| 0:13.0 | Like it or not, October is here, so I'd say it's officially time to get in the fall mindset, |
| 0:19.0 | start thinking about Halloween costumes, and maybe also what the month has in store for the health care industry. |
| 0:24.9 | I'm Christine Harjus and joining me to chat via Skype is health care contributor Todd Campbell. |
| 0:29.8 | Todd can you believe we're talking about October already? I can't I really can't you know it's a gray sky out here today in New England |
| 0:38.6 | And I'm already starting to think about my winter vacation plans. It's just not right. Oh man you were way ahead of me. I'm still dwelling on the |
| 0:46.5 | Thanksgiving plans and Halloween costumes bit of it. What are you going to dress up as this year? I have no idea. |
| 0:52.4 | October sprung up on me. |
| 0:54.7 | But I guess now that we're here, we got two things on our mind for this month. There's a |
| 0:59.7 | Padufa date coming up at the end of the month and a shift in the way medical coding is done. We'll start with the latter since |
| 1:06.4 | this change is going into effect tomorrow, October 1st. All health care providers |
| 1:11.1 | starting tomorrow are going to have to shift from a standard of medical codes known as I C. D 9 to an updated version known as I C.D. 10. |
| 1:19.4 | Todd, can you give our listeners some background? |
| 1:21.8 | Sure. |
| 1:23.0 | I think that the easiest way to explain this is just to think about it from the doctor's perspective. |
| 1:29.2 | You know, if you're a patient and you go in and you get treatment, you get, you know, your doctor looks at you and tells you what you can do to improve your condition and then sends you on your way. |
| 1:39.0 | But there's a lot of back office things that occur at the doctor's office after that visit. |
| 1:44.8 | Included in that is figuring out how they're going to get paid for providing that service to you. |
| 1:50.9 | And one of the ways that they do that is through using a coding system based upon |
| 1:56.8 | whatever it was that you discussed with your doctor that day. |
| 1:59.7 | Previously, up until tomorrow, the US was using ICD knife and that was a very |
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