The US healthcare system is nothing close to a free market. Every step along the way is rigged: the schools that grant medical licenses is artificially gated, you require certifications you need political clout to obtain to open a medical facility, you need to have enough money to play ball with insurers so you get paid for operations, you need to comply with thousands of federal regulations surrounding your procedures, you need to get zoning permission from wherever you are trying to set up shop to even build a medical facility (note that local governments are easily bought out by the hospital chain in their area).

There is also an incredible amount of corruption surrounding drug prescription and diagnosis to get people buying way more drugs than they need to.

It isn't anything close to a free market. I could never open a health clinic out of my garage and put out a sign saying free anything related to medicine. By comparison, India has much more volatile healthcare (because they can't police everyone trying to play doctor) but get innovation as a result.