There is never just one “problem”. Prices are just the result of various dynamic forces in the market: supply, demand, regulatory burden, availability of capital, technological development, corruption, etc.
A competitive market is much more efficient at establishing what to produce and at what cost & price, since pricing is a dynamic process. Some entity establishing prices artificially will lead to market decay.
Sadly, the medical services & products markets in the US are not open to much competition, and one consequence of the regulatory burden is that it prevents other companies from entering the market and allows for all sorts of abuses from existing players.
Please note that I’m not arguing for no regulation whatsoever, but regulation of the senseless kind is hard to come by.