It would also restore the private health insurance rebate as soon as possible.
Coalition Leader Tony Abbott has formally launched the coalition's health policy for the election, promising to deliver a world class health system underpinned by a strong economy.
Tony Abbott says the Coalition's key policies are to tackle chronic diseases, provide faster access to newly-approved medicines, invest in the medical workforce and prepare for the challenges posed by an ageing population.
He says Australia's health care system is one of the best in the world and has pledged to maintain existing spending levels on health services.
Mr Abbott says Australia has an outstanding health system which only needs incremental change and not a shake up.
"I don't say our health system is perfect. No system is perfect. Our health system is always a work in progress. But by the standards of other countries Australia does have an outstandingly good health system. It's relatively well funded. We get good value for money because of the cost effectiveness test which are at the heart of our system and we have truly outstanding health professionals at every level."
The Coalition's policy also includes more community involvement in the management of local hospitals and an improvement to Pharmaceutical Benefits Scheme medicines listing process.
Mr Abbott has also unveiled a plan to rebuild primary care and fund extra training places in hospitals for new medical graduates.
He says his government would spend $52-million to expand existing general practices for teaching supervision and $119-million to double GP incentive payment for teaching in general practice.
There would also be $40-million for 400 new medical internships and an extra 500 nursing and allied health scholarships for students and health professionals.
"We want to try to ensure that the additional health professionals that are now coming out of universities have proper training to go to. That's why there's money here for an expansion of general practice training, money here for an expansion of internships particularly in a private hospital setting. But essentially what we want to do with our health system is make a good system better. The last thing we want to do is impose an overall cut."
Under the policy, the Coalition would institute a new national diabetes strategy and provide $35-million for Type One Diabetes research.
Health Minister Peter Dutton says a Coalition government would also step up the national bowel screening program.
Bowel cancer kills more than 4000 Australians a year and the current bowel screening program covers Australians turning 50, 55, 60 and 65 years of age.
Mr Dutton says a Coalition government would to spend $46-million to speed up the rollout of biennal screening for the over 50s.
"It will provide biennial testing for people from the ages of 50 and 74 and there's a big contrast here. Whilst the Labor government over the last six years has increased their bureaucratic numbers by 35 per cent, on the advice of the Cancer Council the Coalition will save 35 thousand lives. And that's what the health portfolio should be about and if we win the election I am positive we can get great outcomes for all Australians."
Tony Abbott says the Coalition would sell off Medibank Private if it wins government.
But he says says the timing of the sale of the health insurance provider would depend on financial market conditions.
Medibank Private is believed to be worth at least four billion dollars.
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