Duncan M. (Hank) Walker, Professor of Computer Science and Engineering at Texas A&M University sent in this comment:
Europeans spend less than half as much per capita as the US on health care. There is no fancy technology involved, just spending 80% less on administration, negotiating the best prices on drugs, and regulating costs. How can MRI vendors make a profit at $98 per MRI in Japan (the government-specified rate), while the MRI cost is $1200 in the US? They design machines that can make a profit at $98 per MRI.
Technology can reduce costs, but keep in mind that the major cost savings does not involve technology.