Gino, I asked the question a while back, and one of the board members, I think NeproDoc (need to lookup the handle), went through this whole process with a group of Docs, and the big show-stopper for them was to become an insurance company, they needed ~2Million US in reserves to get started, which in their case meant partnering with an insurance company. The process went downhill from there as the motivations of the InsCo and the Doctors was diametrically apposed. That is my free-hand retelling; if I can find his actual post I'll come back later and edit to add it.
From my perspective of having done many startups and dealing with Angels, VCs, private Investors, etc. I have seen many millions more thrown at far risker ventures, and far iffier founders than a bunch of licensed, practicing Doctors.
That said, I'd throw in with a bunch of Doctors to form a Doctor-controlled Insurance company; I'd say that path is easier/faster/less-problematic than unionizing, and raising the capital always takes work, but given the possibilities, I'd say it would easier than most that I have been involved with.
I would *LOVE* to see KP,BC/BS,Aetna, etc have an effective competitor. It would be just the kind of fight I like to pick; but then that is why I like startups instead of being part of the enterprise borg.
