I think how we finance it is a very, very big part of the problem and the two probably can't really be separated. I think it actively encourages bad solutions.
Conventional medicine is a lot better than the alternatives, although it is not without flaws. What's needed is a more open marketplace, more effective regulation and administration, and a better mechanism for protecting intellectual property than the awful system of patents provides.
There's also serious issues with the profit-driven industry surrounding conventional medicine, yet this is not unique to medicine.
I just don't like the fact that having money increases your odds.