Americans are familiar with electronic records: We check our bank statements online, order prescriptions online, pay our bills online. Most Americans are well aware of the convenience and security of electronic records, yet there is not a single, comprehensive, interoperable electronic medical records system. This means more paper forms, more cost from inefficiency and repetitive tests, and more uncertainty in the emergency room. Republicans and Democrats agree: Americans deserve more from their healthcare system.

On Sept. 8, over 100 associations, businesses, unions, patient and provider groups signed a joint letter to Congress urging passage of health information technology legislation this year. Health IT has overwhelming bipartisan support in both the House and the Senate, and yet the American people are still waiting for Congress to act.

American manufacturers have a huge stake in health IT. Working Americans face soaring healthcare costs, and employers continue to struggle to provide health benefits. Health IT has the potential to save millions of dollars for working Americans. Technology has modernized the manufacturing industry by cutting waste on the shop floor, managing inventory more effectively and speeding delivery of products. Now it’s time for Congress to apply the same cutting-edge technology that has transformed manufacturing to our nation’s healthcare system.

The life-saving, cost-reducing benefits health IT legislation can deliver to the American public make its passage imperative this year. Next year, a new administration will take office and, in the shuffle, health IT legislation could stall, forcing Americans to wait even longer.

Electronic medical records capture a patient’s complete medical history electronically and store it so one or more physicians can access patient data when needed. A patient’s prescription medications, test results, digital scans and notes are available to healthcare teams at the click of a mouse. It is estimated that widespread use of electronic medical records would save some 100,000 lives per year by reducing the incidence of medical errors and cut health spending as much as 30 percent, according to the Department of Health and Human Services.

Another benefit is remote monitoring of patients with chronic conditions such as heart disease, diabetes or high blood pressure, using high-speed networks to transport electronic test data gathered from patients at home directly to their doctor’s office. Armed with this information, healthcare teams can recommend changes in patient care immediately. Diabetes patients monitored at home incur healthcare costs less than one-third of those incurred by patients who receive traditional home care from a nurse. Economist Robert Litan estimates that remote monitoring could reduce medical costs for seniors by some 30 percent.

Telemedicine melts away the miles that may separate a sick patient from the specialized care needed. Using high-speed connections that allow interactive video and audio communications at the same time electronic patient data is viewed makes high-quality patient care possible anywhere broadband networks are available. For example, a patient in Des Moines, Iowa, diagnosed with an unusual heart condition, could use telemedicine for consultation with a leading cardiologist in New York City without having to endure the stress and anxiety of travel.

Adoption of health IT would save our nation $81 billion annually in healthcare costs over the next 15 years, the Rand Corporation estimates. To start, Congress must pass legislation that creates a public-private process to develop national standards for health IT; offer financial incentives to spur the adoption of health IT; launch a campaign to inform consumers and patients about health IT; and establish leadership on issues related to health IT privacy and security.

Health IT means harnessing the best technologies available to deliver 21st century healthcare. Congress can help make it happen by passing the right legislation right now. This may sound like a tall order, but both the House and the Senate have drafted health IT legislation that has bipartisan support. They need to formalize what everyone already agrees about and pass legislation now. Americans have waited long enough.

Engler is president and CEO of the National Association of Manufacturers, and former governor of Michigan.