HIPAA was passed largely to prevent this potential catastrophe for healthcare executives. b^)

De-identified data and data contributed by people (read, not Covered Entities) is not covered by HIPAA. Someone could build a database of procedure cost comprised of these data sets, but price transparency isn't so easy due to the nuances of the problem (See Castlight Health).

So build it in Europe?

That's a great idea because the codes are usually on the bill, too. The problem, of course, is keeping all of that volunteered data secure.