Hearing Aid Pricing….Why are they so expensive? December 04 2013
Just recently I bought a new wireless printer for my home office. It was only $69, works for all of our computers and mobile phones vs. our old wired model that cost $200 and only worked for one computer. Why have hearing aids become more expensive, while cellphones, computers, tablets, printers and televisions gotten cheaper?
The reasons are pretty simple. In some hearing company business models, the company doesn’t even manufacture the products. They buy directly from a manufacturer, then resell the hearing aids to their franchisees or licensees. Obviously, both the manufacturer and company cover their costs and take a markup before selling it to the dealers, retailers or clinics. Then, the hearing aid dispenser or audiologist accounts for up to 70 percent of the final hearing aid price, because they factor in a bundle of additional fees for services, including evaluating, testing, advising, programming, fitting, and other after-sales support. In the end, the customer sees one big hearing aid price…up to $8000 for a pair in some cases.
Medical Device without the Medical Price
You can save 50% - 80% with a pre-programmed, “best-in class” digital hearing device versus a comparable prescription device. This reduced hearing aid price is due to the elimination of all the expensive steps in the buying process and the hearing aid manufacturer, company and dispenser mark-up. Simple Ear pre-programmed products range from $399 - $749 per hearing aid vs. similar models for an average of over $2500.
This is why more and more hearing devices are sold online today and acceptability of this Risk-Free buying process continues to grow every year.