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No no no, that's simply wrong.
US healthcare system is the best in the world, at doing what it's designed to do. Issue here is that they're measuring it on care provide vs cost, while the US system is optimized for profits.
If they instead ranked the results by which system generated the most private profits the US would be first.
The line I've heard is
But medicine is still an industry that benefits from economy of scale. It still benefits from public sector R&D. It still benefits from robust safety regulations and enforcement of best practices.
We've been chipping away at all of that. Hell, we're straight up closing hospitals and clinics all over the country, purely because so few of them are economically viable when pitted against a ruthless private insurance market.
There are sectors that bring in big profits, but they're extracting those profits from the sectors that deliver the medicine.
The snake is eating it's own tail. This isn't a long term strategy for profit. Every quarterly cycle leans harder on Medicaid and Medicare as the private systems fail.