The fact that you need bum panels at all is an admission you have just scrambled socialism around.
Everywhere the government hands out money there are 'bum panels': Social Security, Medicare, Food Stamps, Student Loans, etc. You and I may agree that this is all socialist nonsense that should never have been created in the first place, but there is little chance than any of these will go away completely without a reasonable substitute.
I am proposing a reasonable substitute for Medicare and Medicad. A better idea than the original proposal is that the government wouldn't loan the money directly, but just guarantee the loans by private banks like they do with student loans. Then it would be the banks that would be needing to implement something like 'bum panels' to protect their own bums, as the English would say.