Yup. My back-of-envelope from past looks at this is that 5-10% of US GDP is purely drag from excess healthcare costs, i.e. we'd collectively be better off and our economy (entrepreneurship, especially) healthier if that amount of our GDP simply vanished, even though it would mean lower GDP per capita.

There's a quote from Obama in an article from The Nation years ago, that basically says we can't fix our healthcare system properly because it would put too many (white-collar make-work jobs program participants, essentially, under our current system) people out of work.