In a pair of recent press conferences on the issue, President Barack Obama has identified healthcare reform as a crucial element to getting our nation’s economy back on track.

While outlining the important aspects of his plan, Obama proposed a massive effort to modernize healthcare by making all health records standardized and electronic within five years.

Broadband Internet would prove necessary to do this.

The savings of such a plan could be substantial. Dr. David Brailer, former National Coordinator for Health Information Technology, who served as President George W. Bush’s health information czar from 2004 to 2006, estimates that a fully computerized health record system could save the industry $200 billion to $300 billion a year.

Some states are already getting a jump. According to a CNN report, Massachusetts has developed a plan to fully computerize records at 14,000 physicians’ offices by 2012 and 63 hospitals by 2014.

The potential savings that can be realized through other medical e-solutions is also dramatic. Consider ePrescribing, which would essentially eliminate the paper prescription. In addition to saving lives by ensuring greater accuracy in how prescriptions are filled, the program can significantly reduce costs.

For example, a study by the Medical Group Management Association estimated that administrative tasks associated with processing paper prescriptions cost medical practices on average $15,700 a year per physician. According to the Gorman Health Group, if all Medicare prescriptions were transmitted electronically by 2010, federal health expenditures could be reduced by up to $29 billion over the next decade.

Obama has singled out healthcare reform as a major component in achieving economic stability. At the Knight Center for Digital Excellence, we feel that leveraging broadband in healthcare can provide the financial benefit and overall efficiency he’s looking for.

Tags: bandwidth, Barack Obama, broadband, Broadband Expansion, CNN, digital, Dr. David Brailer, economy, ePrescription, George W. Bush, Gorman Health Group, healthcare, healthcare reform, infrastructure, Internet, Knight Center of Digital Excellence, Massachusetts, Medical Group Management Association, Medicare, National Coordinator for Health Information Technology, network, OneCommunity