When I spoke to Mike Donoghue, CEO and co-founder of Convey Pro Inc., I noted that I had numerous friends in medical school and residency — which, as it happens, are also set to be the target audience for his company.
“It’s funny you say that, because that’s the sweet spot demographic,” he said. “That’s part of the thesis of our business model, that young professionals particularly would crave this kind of content, delivered this way.”
He refers to medical podcasts, a niche type of content that the company curates on its app, ConveyMD. The platform launched recently, and the goal, explained Donoghue, a former Smith & Nephew marketing exec, is to be “the Spotify for medical professionals.”
Currently, it has about 100 podcasts on the app, and much of the content is free, as many of the podcasts are available on major media platforms. Yet through partnerships with continuing medical education (CME) providers, like the Orthopaedic Trauma Association and American Orthopaedic Foot and Ankle Society, ConveyMD will also provide exclusive, accredited content for purchase — and this, Donoghue believes, is what sets it apart.
Most medical and health care professionals must complete a certain amount of CME courses each year to maintain their license. Donoghue did so in the 1990s, when he worked as a physical therapist.
These days, he explained, CME classes are often offered by medical and academic associations on their own platforms, through webinars or virtual courses. You’ll log in to the site on your computer, watch a video and discussion on the topic, and then take a quiz to gain credit for the course.
“The challenge with that, is it still requires you to stay connected to your laptop,” Donoghue said.
ConveyMD, however, has sought to make the process more convenient. It’s helping CME providers produce and repurpose their accredited content in podcast form, which is then released on the app for purchase, with prices ranging from $25 to $50 per hour.
You can listen to the course while walking the dog, cooking dinner, or driving to the office, and then take the quiz on your phone, to gain credit for the course. The app also provides images users can follow along with — though Donoghue emphasized people shouldn’t look at the images if they’re listening while driving.
“Podcasting is here to stay; it’s just been underutilized for medical education,” he said. “We believe there’s a big opportunity to move people from webinars to podcasts, because of the convenience and accessibility.”
ConveyMD does have a significant market to tap into. According to a data report from the Accreditation Council for Continuing Medical Education (ACCME), there were over 1 million hours of CME instruction in 2020, with interactions with 45 million health care professionals.
Meanwhile, more and more people are listening to podcasts. A Podcasting Industry Report from Insider Intelligence says the number of monthly U.S. podcast listeners is expected to reach 117 million this year. And younger consumers — ConveyMD’s target audience — are helping drive this growth, as the report asserts that 60% of American adults ages 18 to 34 listen to podcasts monthly.
“They prefer digital solutions, and they value work-life balance maybe more so than previous generations,” Donoghue said of young professionals in the medical field. “They want a more convenient [and] accessible way to manage continuing education. That’s why we believe this demographic will be most attracted to podcast education.”
ConveyMD — which is led by Donoghue and co-founder Chris West — has significant growth plans. And though right now, its content is primarily for physicians, nurse practitioners, and physician assistants, it could be expanded to accommodate other health care professionals, such as dentists, nurses, optometrists, and physical therapists.
Backed by local venture capital firm MB Venture Partners, it’s also looking to raise more funds as the company scales up. Donoghue declined to share specific numbers, but he did say that they hope to have 10,000 to 20,000 users on the platform by the end of next year, and eventually, shift to a subscription model.
Come 2025, the goal is to have 125,000 subscribers, while also growing the staff, and staying firmly rooted in the Bluff City.
“We want to be the next great Memphis company,” he said. “Let’s make this a Memphis success story."
