People often complain about why my hearing aids are so expensive, even avoiding the latest Apple phones. Here, I take you through the required production costs of hearing aids so that you can better understand the common reasons why hearing aids are expensive.
How much do hearing aids cost?
While the average cost of a hearing aid varies widely, it is typically $2,300 per ear, with the highest priced hearing aids costing between $4,000 and $6,000 per ear.
Pricing for most hearing aids not only covers the hearing device itself, but also includes an initial consultation, accessories and after-sales service. For many hearing aids, warranties are offered, although some last only one year. It is important to know at the time of purchase whether these additional services are included in the total cost, or whether you will pay for them separately.
What’s most important is that audiologists recommend ensuring you are buying a quality device. With your hearing aid, it’s something you’ll wear every day, so you want to make sure it works well with your lifestyle, feels comfortable, improves your quality of life, and lasts for years.
The main reasons why hearing aids are expensive
As high as the cost of hearing aids may seem at first, the high cost starts to make sense once you take into account the complexity of the technology and the precision required to customize small digital electronics.
For several reasons, high quality devices are in some cases more expensive than clients initially expect. First, clinic costs (including staff and facility costs) are high, and of course those costs are passed on to the consumer.
Another important reason why hearing aids are more expensive than you might expect is that they are often sold in small quantities. For example, according to Johns Hopkins Medicine, about 1.7 million hearing aids are produced each year, which is in stark contrast to the hundreds of millions of smartphones made each year. Since these numbers are smaller, each consumer pays more for research and development, overhead, and additional operating expenses. In addition, each clinic sells a smaller number of units per month, about 20 per month. This means they are less able to negotiate large purchase discounts with manufacturers.
However, this is the value of Spieth’s existence, as Spieth sells hearing aids directly to people with hearing loss online, keeping overhead costs low. With Spieth’s hearing aid products, you’ll get a quality pair of hearing devices with the features you need at a fraction of the price of most competing products.
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Post time: Oct-27-2021