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  "documentTitle": "TransMedics (TMDX)",
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  "notes": "The slide uses a 'villain' narrative framing, comparing the medical system to a cartel and highlighting the 'addiction to volume' as a driver for TransMedics service adoption.",
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      "text": "the transplant administrators...they’re addicted to the volume",
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      "text": "The Mass General physician’s quip - “one way of getting the good stuff, so to speak” - reminds one of a cartel servicing desperate addicts, and desperate is exactly the tone we sensed from TransMedics highest volume users, albeit for organs not drugs.",
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      "text": "It drops, and the transplant administrators are very concerned about that, but they’re addicted to the volume. You can dramatically increase your volume and your volume is also important because of your denominator.",
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      "text": "My OPO, the only thing they’re truly interested in is two metrics...so, if we can increase our lung volumes by, say, 40 lungs ... we’re a tier-one OPO, and that’s how close the margins are as far as being in compliance.",
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      "text": "“one way of getting the good stuff, so to speak” — Mass General physician; “the transplant administrators...they’re addicted to the volume”; “if we can increase our lung volumes by, say 40 lungs...we’re a tier one OPO and that’s how close the margins are as far as being in compliance.”; “if I do 10 transplants, one or two deaths can shut down the program...but if I do 100, then I have a lot more leeway...the money is funny money.” — Transplant surgeon, Utah",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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