Of course, you're "analysis" is at best misleading. Even if you eliminated every lawsuit you'd only cut "waste" by less than 18% and more likely, less than 10%. Yes, that's a lot but certainly not a panacea.
The study even says that of this 18%, the cost is not all due to lawsuit concerns but the fact that doctors could make more money or - gasp - they believe the procedures are "the right thing to do."
There probably is a "better" system to hold down inflationary pressures due to lawsuits BUT the "fixes" will cause just as much outrage. The GOP has kept tort reform alive because the "cures" are more politically dangerous. "Rationing" "star chambers," etc.
It will take an awful lot of fixes to tackle the out of control costs. Anyone looking for a silver bullet is kidding themselves.