Based on what they say you are probably right. They first say some things that are true but then give completely unjustified explanations about the medical profession. The regulation of the medical profession and the health market also exists in most European countries, even in Poland for example where doctors are not paid well. But somehow he attributes the high cost of care in USA on the high degree of regulation which is in most Western countries...
Americans also pay more for drugs, nurses, and insurance. Hospital CEOs and administrative staff in US also gets paid considerably more.
As a foreigner in USA with experience in the field, I would say that they are doing a pretty good job to make sure that the doctors that get to practice medicine in USA have passed through multiple filtering by ensuring that even the worst doctor is in a good enough level. 
If you want to have cheaper care at any cost, I think you could do it but there will be a price to pay. Medical travel is a viable option but then if things do not go well is your life valued according to Indian or American standards. In other words how much coverage do you get from their malpractice insurance. The medical profession is already very stressful and most young doctors feel that they are not well compensated for their long education, 8 years of student loans, training and skills on top of basically being converted to bureaucrats that their practice is ruled by compensation agreements (do not spend more than x time for each patient). 
Most doctors are smart and very few are &quot;missionaries&quot;. If the medical profession keeps becoming less attractive you are just going to end up with less smart doctors and more smart programmers&#x2F;engineers&#x2F;finance&#x2F;e.t.c. There are choices to be made...