All of these problems come from Medicaid and Medicare paying a lot less for procedure performed (In line with what Canada, and Europe pays) than the public market. It's a drain on most hospital budgets.

If all procedures performed were done at Medicaid-like prices, hospitals and physicians, and pharma firms, and, by proxy, insurers and medical schools would have to tighten their belts, and figure out how to cut costs. That's the entire point of such an exercise. We can't let health costs grow in an unbounded manner.