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So unpopular opinion here: the diagram is a bit skewed in making a point. It's not that private systems are inherently worse, or more expensive. I've lived in a country with single payer, and now I'm in a country with privatized healthcare. I'm paying much less here with a much better standard of care.
The problem as I see it in the US is that if one group in power (such as corps in the US) gets outsized power in the process, then the system will work for them instead of for the people. Even the current US healthcare system would work well if there were some common sense regulations in place.
That said, switching to single payer would also fix the current issue by removing the power of corps. I'm just saying that single payer is no silver bullet at all, and you can fuck that up as well.