For one thing, I think Medicare shouldn't be automatically forced to pay for any FDA-approved medication. Something like the UK's NICE would be more appropriate.
Scott Alexander suggests some sort of "tiered" system, along the lines of "Tier 1 = won't kill you, but we have no idea if it's effective; buy it yourself if you want some. Tier 2 = some evidence of effectiveness but no definitive proof; doctors may prescribe this but Medicare and private insurance can choose not to cover it. Tier 3 = Definitively proven safe and effective; insurance is required to cover."
How to shake it up?
For one thing, I think Medicare shouldn't be automatically forced to pay for any FDA-approved medication. Something like the UK's NICE would be more appropriate.
Scott Alexander suggests some sort of "tiered" system, along the lines of "Tier 1 = won't kill you, but we have no idea if it's effective; buy it yourself if you want some. Tier 2 = some evidence of effectiveness but no definitive proof; doctors may prescribe this but Medicare and private insurance can choose not to cover it. Tier 3 = Definitively proven safe and effective; insurance is required to cover."
How to shake it up?