05 - Nashville's Global Influence: A Conversation with Lori Odom and John Scannapieco

Exploring Nashville's Global Impact on Healthcare Innovation

In this insightful episode, Lori Odom from the Nashville Chamber of Commerce and John Scannapieco, the British Honorary Consulate, join the conversation live from Health Europe in Amsterdam. They discuss the increasing presence and significance of Nashville-based companies in the international healthcare market, backed by years of hosting events like ViVE. Lori highlights how the Chamber fosters economic development and innovation in Nashville, while John emphasizes the importance of bilateral trade and investment between the UK and Tennessee. The discussion explores the macro challenges in healthcare, the role of technological advancements, and collaborative efforts across borders. The episode also touches on the recent Oracle announcement to move its headquarters to Nashville, signaling the city's growing importance in the global healthcare innovation landscape.

00:00 Introduction and Welcome
00:34 Observations from HLTH Europe
02:31 Nashville Chamber of Commerce Overview
05:50 British Honorary Consulate's Role
07:15 Global Healthcare Challenges and Innovations
12:41 Nashville's International Business Connections
15:11 Upcoming Events and Opportunities
19:52 Lightning Round: Fun Questions
21:44 Oracle's Move to Nashville
23:32 Conclusion and Thanks

Please be sure to rate and review Day24: Where Healthcare Meets Exponential Innovation wherever you received your podcasts!

Transcript

Host - Eric Thrailkill 0:00

All right, really excited to be here today with Laurie Odom of the Nashville Chamber of Commerce and John Scannapioco, the British Honorary Consulate. Welcome to Amsterdam to Nashville residents. That's

Lori Odom 0:13

right.

Host - Eric Thrailkill 0:15

It's it's great to see you guys, obviously, and we're here at Health Europe. This is day two on a is it Tuesday? Is it day two on a Tuesday? The my observations are the exhibit area is filling rapidly. There's good attendance. There was great attendance at the main stage today. But you've been here a little bit longer than I have. Give me some general observations. We'll start with you, Laurie. And then pivot over to John on Amsterdam and your observations of Health Europe.

Lori Odom 0:44

So what I love about Health Europe is where we sit overlooks the floor, and I can see the Israel booth here, I can see the UK booth here, I can see the Spanish booth that's here. So watching all of these international companies come together in one place is really unique, and it's been also really exciting because of health and VIVE and that opportunity that we've had in Nashville to host VIVE for a couple of years. How many people have Nashville on their radar? There's a few other Nashville based companies and Nashville connected companies that are wandering the floor and some companies that we built relationships with that are here from other markets. It's exciting for us to be here and to be able to be on the podcast and to interact with the companies here.

Host - Eric Thrailkill 1:28

Oh, that's amazing. And I'm sure they're pleased and glad to to host the two of you as well. What about you, John?

John Scannapieco 1:35

I will pick up a little bit on what Laurie said. For me, what's been great. It is this opportunity to meet with so many different innovative companies from different parts of Europe in one place. Normally, this would have required a fairly significant trip to really, and even then I think you scratch the surface. So the fact that so many good quality, innovative companies are here, and then also the programming. So as in my role as the British Honorary Consul, I'm promoting bilateral trade and investment between Tennessee and the UK, and one of our focus areas is around healthcare innovation. And so being able to participate in UK programming here, how to access the UK and AI, and some of these other programs has really been beneficial for me and has allowed me to make connections that I hope I can bring back to Tennessee.

Host - Eric Thrailkill 2:25

For the two way development. Yes. Yeah, that's a, it's a great segue and we'll pivot it again over to Lori. Tell us just generally for our listeners, the Nashville area chamber of commerce. What it stands for, how long it is, and then your role within it.

Lori Odom 2:40

So at its core, we're an economic development organization. So we're a business membership organization supported by the community. We house the regional economic development plan called the partnership. But really, everything we do is intentional around creating jobs. Creating capital investment, raising income, creating better wages, better opportunities for the people of the Nashville region.

Host - Eric Thrailkill 3:05

And you've been busy lately.

Lori Odom 3:06

We have been busy lately. It's been a good run for the last several

Host - Eric Thrailkill 3:10

years. There's some great evidence of your performance.

Lori Odom 3:12

We foster that it's the business community that makes it an appealing place for other companies to want to be. So it, Nashville has a really unique selling story, I think, you see the growth, you see the development. We're here specifically at Health because of our health care story, because of that 50 years of building the competencies in managing the business of health care. We always say to most of these companies, you're going to wind up selling to a Nashville company, why not start here? And that is a, it's a great market to get your roots put into the U. S. marketplace and that's why we're here is to help do that. We've been around since 1847.

Host - Eric Thrailkill 3:50

Wow. Yeah. I did not know that.

Lori Odom 3:52

Yeah, it started in 1847 and through that regional public private partnership, the partnership that's focused on economic development, came up with big ideas that have impacted our community. So the health the health care council, Going to start its 30th year. That was an idea that came out of partnership. The Entrepreneur Center came out of the partnership plan. The Technology Council came out of the partnership plan. So we look at what are the big issues in our community that we need to work on and then try to help foster that. And then often times we don't own it. We push it out into the community where it finds support. But that's the big challenges, the big focus of what's needed in the region is what the Chamber's working on.

Host - Eric Thrailkill 4:34

That's great. And that helps me and listeners understand. And then your specific role.

Lori Odom 4:39

So my specific role, I sit on our economic development team. We have a five person economic development team that's working to retain the companies that we have in the Nashville region. There's somebody like me from another city in Nashville all the time trying to recruit them away. That's great. So we want to retain the ones that are there, help them grow, and then we also want to recruit new companies into the region. My work specifically is on that international side. So I, the chamber has had a globally focused economic development position since the late 90s. So what I do is work with like John's counterparts with the consulate. It's in Atlanta, D. C., those that represent us, to make sure that people understand that yes, Nashville is a great place to visit, a fun place to be, but like I said, that business story is there. So making sure to connect with multipliers, with corporations, with companies that might be looking at U. S. market entry, and make sure they know about Nashville.

Host - Eric Thrailkill 5:39

Oh, that's great. That's great. And you're driving a lot of day to day change, and I know a lot about that. And then, John, a British honorary consulate. Explain that a little bit.

John Scannapieco 5:52

My job is to promote bilateral trade and investment between the UK and the state of Tennessee. I work with Tennessee companies that may be interested in doing business in the UK. Much like Lori wants to make sure that companies are aware of the story of Nashville and how Nashville is maybe a great place to do business, I do the same, but for those companies that are looking to expand beyond the United States, I want them to look at the UK because of all that the UK has to offer, so I will work with them there. I also will work with UK companies that are interested in coming to the United States, and I try to get them to focus, or at least consider, the opportunities that are in Tennessee. And right now we're focused a lot on like mobility healthcare, so the health, that's why we're here. Also some other other areas around like EV vehicles and yeah, things like that. And then I also promote UK policy in Tennessee. So there are just like the United States has certain views on human rights and other things, so does the UK. And when I have the opportunity, I try to promote those views here in the state with the governor, with our elected officials in the state. Just so they're aware, maybe we can find some common ground to work on those issues together. Interesting, and how long have you been doing this? Let's see, I've been in this role, I want to say maybe about eight years. So I think I'm, I think I'm about to start my ninth year.

Host - Eric Thrailkill 7:15

Yeah and let's talk about some of the converge factors that I think the three of us all believe is driving this significant interest. Strikes me, I've been in a number of sessions and many people, smart people have written quite a lot about this, that the macro challenges in healthcare are similar across developed countries. Aging population, increased cost, and workforce issues are generally the big three. There's intrigue around what advanced analytics. It's genomic sequencing, better understanding of consumer behavior, social determinants of health, digitization, at least in the U. S., of electronic health records, in the U. K., the same way that now we have data. And then cloud compute storage companies, many of which are here. Google's got a big booth here, but Microsoft, Google, Oracle, certainly, and Amazon are big players on the tech side. It's actually easier. to start and found a health tech business or a tech enabled services company than ever before. You can develop software on enterprise great tech stacks. You've got access to AI componentry to really add capabilities to your solution and the macro challenges in most countries regardless of how healthcare is financed. A lot of variation there. But regardless of how it's financed are similar. So I'm saying it, maybe just weigh in with your observations, more potential partnership, more collaboration, increased real conversations around healthcare and solving some of these macro challenges across borders. Whether that's states or national borders.

John Scannapieco 9:07

No, I think that's exactly right. So you, let's take Europe for example. So Europe is a combination of, over 20 different countries, all within, you can probably get from one side of the, to the other, and probably less time than you can to the United States, right? And so those are pretty small markets, and so as a result, what I've been hearing here is if I really want to scale my company, I have to cross borders, right? So you have some of that going on, so they're used to now crossing borders. It's trying to understand how does my innovative solution, how can I localize it and adapt it to maybe the cultural regulatory differences in those countries. UK, it's somewhat similar other than the fact that the NHS is trying to do more with less, right? And so they're looking beyond their borders to find these innovative solutions. It wasn't always that way in the United States. And I don't know if it's my generation, we were taught such a US centric view. Healthcare was this big thing in the United States, there was so much opportunity within the United States, so I didn't have to look beyond those borders. But in the conversations I've been having over the last couple of years with some very smart people that are trying to solve some of these big problems, they're starting to come around to the fact That, there are, there is all this innovation going on around the world, and to your point, these are not issues or problems unique to the United States. They are global problems. And so if that company in Israel or Canada or the UK or France or Spain or wherever it may be has a solution to one of those problems, I should probably take a look at it. And again, we're not where they are here in Europe and maybe other parts of the world, but I can see the United States getting there and very quickly getting there. And that's why conferences like Health and Vibe, I think are so important because they're convening all these people. And so it gives us, us being the United States, an opportunity to really learn and hear about these solutions. And I think you're going to start seeing them integrated now into the various platforms we have within the United States. Yeah,

Lori Odom 11:12

I agree. And I totally agree. And John and I were looking out at the booths that are here and he made the comment 20 years ago, most of these companies didn't exist. So when you think about the evolution of change, when you think about the global opportunity that exists, it's hard for a company to go set up a big facility in another country. But they can take a technology and take a software, they can license that it's more transmissible, it's more transportable, it's more easily engaged in other markets, and that's where we really see the opportunity for companies to do business in Nashville, but also for our Nashville companies to do business globally is this is opening doors for them in. We look at it different. One thing that's been interesting is, I am not a health care person. But listening to so many of these conversations over the years, the motivators, we're looking at cost and how do we drive revenue and how do we drive profitability and the UK is looking at efficiency. So almost the cost if you lead with that is almost a turn off. So figuring out how you speak health care language between markets is really interesting. But there's so much opportunity because those challenges are the same. They just need to be maybe wrapped up a little bit differently when you take a product out into the market.

Host - Eric Thrailkill 12:35

Yeah great insights. And are both of you observing interest in Nashville? I've got some evidence here, but Nashville based companies and commercializing abroad. Yes. And going the other direction.

John Scannapieco 12:49

So you're talking about Nashville leaving and coming out? That's starting. And again, it's simply because the market, the healthcare market in the United States is so large that it's why, because think about it, you've mentioned this, the United States healthcare system is an apple Europe is 15 other different kinds of fruit. And so it's how do I learn about all that? I'm going to stay here. But again, to your point, or what Lori said, I have a technology that I don't have to build a manufacturing facility. I just need to understand the regulatory aspects, the reimbursement, and if I need capital, where the, you know, capital sources. And once I do that, then I can just go. And I think you're gonna see more and more, again, as these companies come to these events, and they begin to talk with folks from all over the world, they're gonna realize, hey, they're just like us. They have the same issues, the same problems, and I think my solution can really address that problem that they're having. And again, to what Laurie said, I may have to package it a little different. I may have to present it a little different, but the core solution is the same.

Host - Eric Thrailkill 13:56

So capital light, investments, mentors, advisors, and really business know how and country know how on both sides of the equation is necessary. These events are big conveners of that, and we'll talk a about ours coming up here. But

Lori Odom 14:13

I think that's what we've what we're trying to do from a chamber perspective, working alongside yourself at the Entrepreneur Center and as an industry executive who understands Nashville's health care offering and market and people. And John is the consulate is trying to build bridges so that if a Nashville company is interested I know the people to plug them into so that they can easily channel into, finding the clinicians that they need to talk to doing the research they need to do understanding the regulatory environment. So they're not doing this in the dark alone.

Host - Eric Thrailkill 14:49

Yeah, I agree. And I've found I've interacted with a number of folks. I'm sure the two of you have as well. People are approachable. They're listening. They're understanding. It was a great session today on doing business in the U. S. that I attended that I thought was really good. One of the panelists said they've got 50 of these things called states. They operate a little bit different. Very interesting. Let's talk a little bit about coming up events. So the health community and includes five and five was in Nashville last year and then. Made a one year pivot out to L. A. Returns to Nashville and in February of 2025. I know we're all looking forward to that, those of us that participated there and then tell us a little bit. Laurie, how the chamber might be thinking about vibe coming up here. So

Lori Odom 15:39

one of the questions we get asked all the time is, Hey, I've got a company through these resource partners that we need around the world. Hey, I've got a company. They're doing something really innovative. They'd love to meet with H C. A. Can you make an introduction? It's really hard to make one off introductions without fatiguing your partners. So what we've really tried to do is Say, Hey, when can we pull together an international opportunity to invite all of our partners from around the world? We've had really strong interest from the UK from Ireland from Canada, from all over. And when can we get them into Nashville and maybe do a one day seminar on going global? Maybe do it both ways. So we have some of our domestic companies. that can have an opportunity to connect with international partners. And we are, fingers crossed, looking to do something to follow the Nashville Healthcare Sessions, which is in early October. More to come for that, and I'm looking you in the eyeballs, Eric. I'm enlisting your help, and also John's as well to make sure that's a success. And I think if we had A rallying point, there's definite interest in Nashville, and if we can find a way to bring all of those folks together, maybe once a year, I think we'd really have an opportunity to drive forward that, that goal of increased economic development in this area.

Host - Eric Thrailkill 16:58

Yeah I agree. Actually on the panel that I was listening in on today, they were talking about geographic locations within the U. S. and where you'd want to go, and it was consistent with the leaders. They were saying probably not in Boston, New York, and. In San Francisco, but they've mentioned two cities and Minneapolis and Nashville were the two that they called out, that you'd want to be a part of. I'm excited about that event because I know a lot of these companies really want to understand what is it like to do business in for profit healthcare, but also in an area that knows how to do business like, the Nashville ecosystem. I think, John, you were going to mention something.

John Scannapieco 17:36

Oh no, from an international perspective. And what I have seen from the UK side is this is a priority for the UK government. And so I have been tasked in my role as the Honorary Consul to really emphasize the opportunities to take both UK companies, innovative, med tech companies to the United States, but as well is to introduce innovative solutions from the US into the NHS and helping each side demystify that procurement process. It's where I think we're landing and really trying to help those companies so they can be successful. But I'm seeing this in, from other countries as well, whether it's Israel, Canada, Ireland. Like I said, I think there's so many opportunities for us from a global perspective. And what Lori's talking about, those types of events, I think can really bring Nashville to the front.

Host - Eric Thrailkill 18:26

Yeah. And it's be it's a priority and it in the UK and the NHS, just because of some of those macro challenges That we talked about last night at dinner, and we were chatting about the origin of Medicare in 1963 when 10% of the population was 65, and it was actually preceded Medicaid by just a little bit. So you had the federal government in the United States. I'm not sure what the population was back then. I'm guessing a little over 200 million. That was providing or financing care for about 10 percent of that. Lifespans were not too much older than age 65, again, five decades ago. Now people are living longer, in 2040 we'll have 22 percent of Americans that will be 65 and older and are a robust set of the population, about 90 million covered by Medicaid. So now with Veterans Administration, Department of Defense, federal employees. Medicare and Medicaid, we're at about half of the United States that's financed by these government sources. And then, putting together the right business models that address employers, address individual patient and consumer needs, but also with a focus on government spending, whether that's at the federal or state level, is just crucial. I know you're going to have a lot of interest in how to do business in Nashville with us. With that as a backdrop.

Lori Odom 19:50

Yeah, definitely

Host - Eric Thrailkill 19:52

a lightning round real quick. One of my favorite questions is you're both from Nashville. So out of the soccer team, the Titans, the Predators and let's go ahead and throw in the Nashville sounds which sports team will win us a championship before the other three.

Lori Odom 20:11

I'm going to go with the Preds.

Host - Eric Thrailkill 20:12

Yeah, I just think there's a little momentum there. I'm going to go with

Lori Odom 20:15

the Preds. I know that's the easy answer, but that's the one I want to go with.

John Scannapieco 20:19

I played hockey for about 52 years, so I'm also going to go with the Preds. Plus, I do think they are on the up. Yeah. And I think the Titans are too, from what I see, but I think they're a longer away from getting to that role where I think the Predators are much, much closer. And I think with a couple of good acquisitions this year, they could maybe make it. What's your answer,

Host - Eric Thrailkill 20:41

Eric? Mine's totally Nashville Predators. I'm a huge fan of the hockey team, and I agree bringing Barry Trotz back as general manager. David Boyle did an amazing job, but I like their chances. The MLS team has had an amazing run. It's been a great asset for the city. Okay. Coffee shops in Nashville. Too few or too many.

John Scannapieco 21:05

That's a good question. I would have to say, and I'm gonna rule out the Starbucks and the Dunkin's and all that, right? We're talking local. Local. Then I think it's right a good number because no matter where I am in the city, I can find a good one. And you can find

Host - Eric Thrailkill 21:19

a seat at

John Scannapieco 21:19

one.

Lori Odom 21:19

Yes.

John Scannapieco 21:20

Okay.

Lori Odom 21:20

I would say almost too few. Depends on where you are.

John Scannapieco 21:23

Yeah.

Lori Odom 21:24

It is hard to find them every once in a while. Now John's a big dunking guy, so I didn't know. No, that's why I

John Scannapieco 21:30

ruled them out, but I will go to others. I will. I'll do that. But, maybe it's my, the neighborhoods I'm in, there seem to be there's always a spot.

Host - Eric Thrailkill 21:39

This is a little bit more of a lightning round, and I know we've got a dash. So let's take 30 seconds each and. And just talk about the recent announcement that Oracle made with moving their headquarters to Nashville and obviously a big day with Senator Crist and Larry Ellison on the big stage announcing that. A lot of people have written about it and a lot of thoughts around it and we'll start with you, Lori. Look,

Lori Odom 22:01

I think, Nashville had, has so many strengths in healthcare. I think Larry Ellison so eloquently talked about the heart and soul of Nashville. It's a great place to live. It's a great place to do business. It's where people want to live and they want to live there. So that's a big driver around the workforce. And I think it's going to just add fuel to a fire that was already burning. I'm so excited about what that's going to do in the future for Nashville's health tech scene. Yeah,

John Scannapieco 22:28

And I'll pick up a little bit on that. I don't know what it means to say it's our world headquarters. But what I'm fairly certain it will be their global headquarters for at least healthcare innovation, which I think is fantastic. And having a company like Oracle make that statement, I look out on the floor here with all these people from around the world, and you mentioned Oracle coming to Nashville and making this announcement, they now understand what we have known for many years, that Nashville is for real. And it's a place that I definitely need to check out and hopefully come. So I think it's going to be a real catalyst for even more growth. And I know those people who don't want growth are probably not happy but I think it's going to be a very positive for the city.

Host - Eric Thrailkill 23:14

Great endorsement of a five decade ecosystem that exists in healthcare. And we're seeing it on display here in Amsterdam. There's a giant poster of health in Vegas and then side by side with The upcoming five event, which Nashville is again called out. You guys have been great, generous with your time. Thanks so much. I know we're limited on time. There's a lot of fun. Thanks. Appreciate it. Thank you so much. Okay.