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      "text": "We learned from this call that the AXDX reagent rental agreement is structured to give hospitals a lot of freedom. The contract does not specify a minimum number of tests and does not have a cancellation fee to cover AXDX's upfront expenses.",
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      "text": "Q: Why does the installation take 4-9 months? A: This can be challenging to fully understand. When it comes to microbiology, you're basically going to perform a process. You get the results of both of those processes (new process and old process) to see how much they correlate....Ultimately, the hospital is producing a report that contains all their validation data, and they are going to submit that to the medical director of the lab. And that medical report is going to say here was our data from our verification and validation, and it matches or correlates well with our predicate methods. It is ready for routine testing. And they may find instances where it didn't match.",
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      "text": "Q: Do you make any revenue while the hospital performs validation and verification testing? A: If they are doing a strict reagent rental process, then I would say the answer is no.",
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      "text": "Q: Can the hospital cancel their agreement after installation and is there a penalty? A: I don't think there is a cancellation penalty. In some cases they may just give back the device.",
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      "text": "Q: How often does hospital validation and verification of the Pheno system fail? A: That's a great question. There was a time that I would say with certainty that the answer was no, we have not yet failed a validation. Now, I think the number of times that we lose, you can count on one hand.",
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      "text": "a lab director is committing to something that they will never use. It really does need to be a good representation of what their volume will be.",
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