That's basically the function of most state medical licensing boards. They primarily act as lobbying organizations on behalf of their members to limit civil/legal liability, and to bring a sense of internal regulatory action. My state license costs thousands of dollars a year and is necessary to practice, but all they do is ask me once a year if I've committed any crimes or are currently addicted to any illicit substances.

A bunch of physicians like to bitch about malpractice suits making the field difficult to work in, but in reality you really almost have to be acting maliciously to lose a case. For example the last guy in my city to have lost a malpractice case in my field was years ago, and it was because he forgot to order a titanium rod for spinal fusion and installed the shaft of a stainless steel screwdriver instead. Like.... Yeah buddy, you should be in jail.