The speaker discusses the implementation of the new ICD-10 diagnostic codes that went into effect on October 1st, 2015. The speaker introduces ICD-10, explaining that it is the 10th version of the International Classification of Diseases coding system used to classify diagnoses and treatments. The speaker notes that the transition to ICD-10 will impact healthcare providers, insurance companies, and patients, requiring more time and money from providers and insurers while helping ensure patients receive accurate reimbursements.