Yes there is a huge waste in healthcare but it's not for the reasons described in this paper

https://www.medscape.com/viewarticle/891091#vp_1

https://www.cato-unbound.org/2007/09/10/robin-hanson/cut-medicine-half

https://www.thedailybeast.com/study-giving-people-government-health-insurance-may-not-make-them-any-healthier

https://www.cato.org/blog/does-preventive-care-reduce-health-costs?mc_cid=5b45d773fe&mc_eid=5486403ef0