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From my understanding of the statistics, Australia spends only a little more (as %GDP) as UK on health. However in Aus, the government spend is about 2/3, with the rest being picked up by individuals (health insurance + out of pocket). Outcomes in Australia are much better so I think there is better value for money for the nation as a whole.Good luck if they can get it for free... But for the rest is a long wait.
Having worked in both countries (metro only), the health experience, standard of healthcare and access is better here.
However, when I left (15 years ago) you'd wait a shorter time for public surgery in the UK though I understand there have been some big blow-outs since, particularly after covid.
My feeling is that the NHS is very inefficient but there is almost no chance of the UK switching to an Australian model (or similar) as the British people just wouldn't stand for anything that wasn't entirely free.