My simple policy proposal is to reduce the jurisdiction of the Federal Drug Administration. In addition, we should allow international sales of pharmaceuticals. In an ideal Libertarian world, the FDA would be completely abolished.
While the stated mission of the FDA is to protect the public, the true mission is to limit the supply of drugs and medical devices to maintain enormous corporate profits. Remember the EpiPen? The price increased from $94 in 2007 to $608 in 2016. The cost for one EpiPen in Canada was about $100 in 2016.
Only with government involvement could such a simple device cost so much. Obviously, were American customers allowed to buy this product from Canada, the American price could not have spiked to $608.
In a truly free healthcare market, this device or a reasonable substitute would cost less than $10.