US health sector to receive big boost

US President Barack Obama\'s plan to transform the healthcare system is expected to receive a major boost from stakeholders in the industry.



Groups representing hospitals, doctors, drug companies and insurance firms are due to confirm their intention to cut spending over the next decade.



White House officials say the plan should save about $2 trillion.



The government\'s planned reforms include medical insurance for the 46 million Americans currently without it.



The six industry groups are due to formally deliver a letter to the president outlining their voluntary agreement to cut spending increases by 1.5 each year until 2019.



The White House believes it could eventually save families as much as $2,500 a year.



The US currently spends $2.2 trillion a year on medical care, which amounts to 16 percent of the overall economy.