Back before the 1970s US healthcare was not considered costly because it couldn't do much. The number of expensive treatments and medications for people with chronic conditions, serious diseases, and trauma has exploded since then.
That's certainly true; I just don't think it's a major factor in high healthcare costs. Many other aspects of modern life (mobile phones for just one example) have also seen an explosion in capability, yet costs have decreased because the marketplace was competitive.
Comparison to consumer electronics is a total non sequitur. Why would you think that's even remotely comparable? Healthcare delivery mostly isn't scalable and suffers from Baumol's cost disease.
