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.
The hearing industry is product driven. You might have heard the term bundled or unbundled. Bundled pricing occurs in approximately 90% of practices in the United States. In a bundled hearing aid pricing model, the provider sells a hearing aid with service included in the price. Unbundled pricing differentiates product from service. Although bundled pricing is prevalent, each model has its benefits and consequently affects the underlying cost.
In this post we’ll take a look at hearing aid styles. Depending on the individual, this tends to be either the most or least important aspect in the decision-making process.
Vanity is a legitimate concern. We get it and completely understand if you're checking yourself out in the mirror every morning when you put the hearing device in! :D
When you’re deciding on a hearing aid, and the hearing provider shows you the price chart, how prepared are you to make an informed decision? Are you a good candidate for top of the line hearing aids or could you do well with relatively basic technology and save a few bucks? Do you know the brand? Are you familiar with the manufacturer’s features? Were you quoted a fair price?
The hearing industry is full of confusing hearing terminology. Manufacturers have different names for the same features and providers lump hearing aids into technology levels making it nearly impossible for consumers to compare brands, models and prices apples to apples.
Our next few posts will discuss each component hearing providers use to recommend hearing aids and evaluate factors critical to making an informed decision.