That's a black or white fallacy. The state of Hawaii also has a state run healthcare system, it didn't ruin Hawaii, a very prosperous state. The state of Oregon has a healthcare system highly regulated by the state, I don't see Oregon falling apart. Having to wait in line for healthcare sucks, but is thousands of percent better than having none at all, which is the case with about 17% of Americans, most of which are young working families; i.e, the working class. The poor are covered under Medicaid.
I don't see old people in America who have Medicare coverage dying in droves while waiting in line, they have socialized health care, don't they?
It's not so much an economic question as a moral one. Are the only people entitled to healthcare those who can pay for it? That's an immoral choice. We need a healthcare system for all Americans, not just some.
What if our legal system was structured like this? (not that it isn't most of the time).