CBO: Health IT could save fed government $34 billion

Many of the healthcare reform proposals put forth by Democrats are expected to carry with them high price tags. A bright spot that exists is potential savings from a requirement for doctors and hospitals to use health information technology, including electronic medical records, as a condition of participating in Medicare. Officials says that such a requirement could save the federal government $7 billion in the first five years and a total of $34 billion over 10 years, by reducing medical errors and avoiding unnecessary tests and procedures.