The pledge to cut $2 trillion in healthcare costs, discussed at a White House meeting last week between President Barack Obama and industry leaders, is back on the table, and information technology is expected to underlie some of the proposals.

Representatives of the Advanced Medical Technology Association, American Hospital Association, American Medical Association, Pharmaceutical Research and Manufacturers of America, Service Employees International Union and America's Health Insurance Plans had pledged the cuts during a May 11 meeting with Obama.

The New York Times had quoted the leaders of some groups as saying Obama might have overstated their promise. But on Friday, the groups issued a joint statement saying they are developing proposals to present by June 1, as the president had asked.

The goal, as set forth in the White House meeting, is to achieve cuts in the healthcare cost growth rate of 1.5 percent a year over the next 10 years, which would save $2 trillion over 10 years and result in a cost savings of $2,500 a year for families, according to the administration.

The groups are on the record as supporting the White House position that healthcare information technology is a tool for reform and cost-savings in the long run. Topics they are expected to address in proposals include aligning quality and efficiency incentives and evidence-based medicine.

On Friday, Peter Orszag, director of the White House budget office, wrote on the White House Web site that the Times article "makes a mountain out of a molehill."

"The groups have since clarified that they may need to 'ramp up' to the 1.5 percentage point reduction in the growth rate, which is understandable," Orzag said.

"Allowing some time for a ramp-up does not change the fundamental point, which I highlighted in an op-ed in the Wall Street Journal this morning: The groups have committed to significant reductions in the growth rate, thereby recognizing that substantial efficiencies can be captured in the health system,” he said. “Some ramp-up time also does not materially affect the long-term impact from reducing the growth rate, on either national health expenditures or the federal budget.  The sooner we enact fundamental health reform, the sooner we can begin the process of improving quality and reducing cost in the health system."