Health IT tools like EHRs may contribute to lower overall healthcare costs by helping physicians determine more quickly exactly which procedures are needed, thereby reducing the number of unnecessary or duplicative tests and treatments provided to patients, experts say.

Upwards of $700 billion is wasted every year on unnecessary tests and treatments, Lisa Suennen, a managing partner at the healthcare investment firm Psilos Group, told Healthcare IT News.

"Can you imagine taking one-third of your paycheck every month and flushing it down the toilet?" she asked the news source. "That is basically what happens with the more than $2.5 trillion circulating through our healthcare system."

She proposed that new physicians be trained better on how to avoid unnecessary spending. Additionally, since new doctors are more likely to be sued for not providing a test, steps should be taken to ensure that they are not ordering more tests simply to cover themselves.

EHRs can contribute to solving the problem of high unnecessary costs by giving physicians a complete view of a patient's history and informing them of best practices for given circumstances. This may enable them to more confidently choose the most appropriate course of action.