Yes, the Independent Patient Advisory Board creates death panels, because it selects which services will be funded. When the panels choose which person can have surgery, and which person will have life support removed, they are choosing whose life deserves investment, and who will be allowed to let die. This is tantamount to death panels.
We have a very wasteful medical and medical insurance system. There needs to be some group that reviews ways in which money is being spent on treatments and such that are not going to be worth the investment. That is not the same thing by any means as a death panel, and physicians and patients still have their decisions to make.