17% of GDP is spent on healthcare. Claiming 60% of that is just "middleman overhead" makes no sense when the highest European countries spend 70% of what the US spends on healthcare.
If you want an actual analysis of why US healthcare costs are higher, I'd recommend the McKinsey study that compared category spending vs OECD countries. Exhibit 2 on page 4.
https://www.mckinsey.com/~/media/mckinsey/dotcom/client_serv...
Administrative costs are way higher in the US, but it only accounts for 15% of the higher cost.
The biggest driver is outpatient care - Americans get way more healthcare and it costs more (quantity * price).