Medicare (especially) and Medicaid reimbursement drives the cost of medical care. Before 1980, Medicare paid on a cost plus basis (mostly). As long as the fee was "reasonable and customary" the government paid it. Costs went out of control. The Reagan Administration in the 1980's came up with scheme call " Diagnostic Related Groups" , DRG's, that began reimbursements on a set fee to hospitals and some hospital based physicians based on the diagnosis only, not any comorbid diseases, age or any other factor. Hospitals bottom line began to suffer, although most of them were still making plenty. Clintons attempt at Hillary Care spooked corporate hospitals into thinking they were going to lose their referral base, and they began to buy Dr.'s practices and consolidate. Every time Medicare cut reimbursement, hospitals and most physicians raised their prices on private insurance and private payers. These trends have continued to the present. Medicare keeps cutting reimbursement, and overall costs to everyone else keeps going up. Add to that that their is practically no competition because of consolidation, and most physicians now work for a corporate entity rather than themselves in their own practice (like North Mississippi). The result is that you have the worst form of corporatism, and most Dr's just like everyone else will not buck a system that pays them.
The feds will not admit that it cannot afford to provide free medical care to our elderly without a massive increase in taxes that wrecks the economy. The rest of us are paying the difference through increased fees and health insurance premiums. The only people that are happy are the corporate suits and the trial lawyers.
How to fix it? I honestly don't know. The only thing that possibly could help is some system that reimburses individuals for part of their insurance premium if they don't get sick. It seems the whole thing may have to collapse and rebuilt from scratch.
And no, single payer is not the answer, unless you like very long lines. The running joke among UK physicians is "We pretend to work, and Public Health Service pretends to pay us".