Maybe North America but Europe is larger than the US and especially the contiguous US. There are also a shit ton of different countries in Europe which all have different laws and standards which are not easy to work with. They seemed to be able to do just fine. Although they did not cater near as much to auto manufacturers and rip up rail line we did in the US.
As for medical care, the US spends significantly more per person (19% of GDP vs 10-11% for most others) and you are correct that the main reason for that is bloated medical companies.