A major start toward slashing costs is looking at the manufacturing pharmaceutical companies and how they're gaulging prices to hospitals. If you look at other countries similar is not the exact same medicine is drastically cheaper in some fields.
Also I think that malpractice needs to be changed. Humans aren't perfect and they're going to make mistakes over their careers, everyone does. If you're willing to go to the particular hospital and doctor then hopefully you have at least invested some time and thought into why you picked him (his field of expertise and experience) you shouldn't be able to sue for millions if something goes wrong.