Keep in mind the United States only fails so spectacularly at socialized system implementation because the power of the socialized service to negotiate is defanged to prop up the excesses of the private sector.

Let the government flex its muscles without artificial constraint, and watch how fast the market has to rein itself in to remain competitive.

The reason Medicare is loathed, is because Medicare has a mandate to not excessively spend, and it's pricing is actually determined by people with the public interest in mind first and foremost, as well as having its pricing accessible as a matter of public record instead of being hidden away in a locked filing cabinet somewhere.

The combination of those two factors are a powerful tool for shaping an industry away from "make as much money as possible while providing a service" to "provide as much service as possible while the money holds out".

It is a subtle, yet important difference.