That’s a decent amount of money but I wouldn’t call it a big reason. One of the problems with bringing health care costs down is that there aren’t any big reasons for it, just lots and lots of little ones.
EX: Their are 1.1 million doctors assuming 250k average salary it adds up around 275 billion ish which seems huge, except that’s out of 2.2 trillion in US heathcare spending. So, that’s only adds up to around 10 percent of total spending. And malpractice insurance is well below what a doctor makes on average.
Pills, buildings, janitors, machines, etc all add up.
They probably have stories of malpractice insurance not working that well, creating ruin for the doctors because of a relatively uncommon event, much like patients using the medical system.
The same is true for food companies, software companies, and furniture companies, yet we don't see rapidly rising costs in those areas.