In theory, a discretionary central bank could limit the quantity of money and achieve long-run price stability by controlling the growth of nominal final demand.
What Segal, Zelt and other Canadian officials underscore is that their government-run system is driven by the value of the care and that the quantity of tests and procedures don't necessarily equal quality.
Unlike the classical gold standard, there is no market feedback mechanism to bring the quantity of money in line with the demand for money while maintaining long-run price stability.