WASHINGTON –  President Barack Obama’s pledge to inject $50 billion into the healthcare field over the next five years to develop and support technology has many in the industry wondering how and where that money might be spent.

On Jan. 22, 117 CEOs and business leaders sent a letter to House and Senate leaders supporting federal investment in healthcare information technology, broadband and energy smart grids, saying they “will provide our nation with a near-term stimulus and long-term comparative advantage.”

“Congress and the new Administration face a formidable task, restoring the nation’s confidence and encouraging the innovation, risk-taking and entrepreneurship needed to get our country moving again. The investments in a smarter energy grid, healthcare IT (such as electronic medical records) and accelerating broadband deployment recommended by President Obama will not only stimulate the economy, but will also accelerate long-term growth. They fund the future,” the letter read.

“I expect that the Obama Administration will strongly promote both electronic health records and electronic prescribing, and there is little doubt that this is good news for the country, for patients, for physicians and for Allscripts and other healthcare IT companies,” said Glen Tullman chief executive officer of Allscripts-Misys Healthcare Solutions. “I anticipate these new programs will include both carrots and sticks, similar to the successful CMS e-prescribing program that took effect this month. By encouraging physicians not only to buy the technology but just as importantly to provide incentives for its use, I think we’ll see a significant uptick in adoption and, as a result, better care for patients at lower cost.”

VirtualHealth Technologies, Inc., a Lexington, Ky.-based healthcare IT vendor, issued a press release the day after Obama’s entry into the White House announcing plans to develop new practice management, electronic medical records, secure messaging and patient portal technologies in the coming year.