The hearing industry is unique. Unlike optometry and dentistry, hearing providers often focus and rely on the sale of hearing aids to drive their businesses. Instead of promoting diagnostic ability and technological expertise, providers often sell a device and include on-going service with the purchase (Bundled Pricing). The result is a product-focused consumer that fails to recognize the value of the provided service.
Hearing providers have tied their fate to the hearing aid, a device an overwhelming majority consider overpriced. Coupled with limited transparency and unrealistic patient expectations due to product marketing, the industry has earned a reputation of distrust.
90% of clinics dispense hearing aids in a bundled pricing structure. The result is an inefficient model that requires patients to pay a fixed amount regardless of whether the included service is used. The bundled model has prevented market forces from driving the price of hearing aids, as patients are not able to compare hearing aids and prices apples to apples.
The resistance of providers to shift to an unbundled pricing structure has opened the door for new entrants looking to capitalize on the industries lack of transparency. While these new players are finding innovative ways to achieve decreased pricing, it doesn’t guarantee an increase in consumer satisfaction.
Hearing providers remain the key to better hearing.
The question is whether hearing professionals will adapt and look for ways to redefine commerce in an effort to offer competitive pricing while shifting patient focus to the delivery of outstanding hearing healthcare.
One proposed method is to unbundle or differentiate product and service. Instead of lumping product and service in an all-inclusive package, clinics dispense a product and the consumer pays for their professional expertise as it's needed. Although the methodology is relatively uncommon in the hearing industry, unbundled clinics allow consumers to achieve significant upfront cost savings while only paying for office visits actually used!
was designed to connect hearing aid shoppers to these innovative local hearing professionals.
Check out our marketplace to view hearing aid listings from local providers that share our vision!
Brand name hearing aids. Local service. Transparent pricing.
It’s all hear.