{"id":564,"date":"2020-09-14T16:25:50","date_gmt":"2020-09-14T07:25:50","guid":{"rendered":"https:\/\/www.oliveunion.com\/ustest\/why-are-hearing-aids-so-pricey\/"},"modified":"2020-11-20T13:45:07","modified_gmt":"2020-11-20T04:45:07","slug":"why-are-hearing-aids-so-pricey","status":"publish","type":"post","link":"https:\/\/www.oliveunion.com\/ustest\/hearing-device\/why-are-hearing-aids-so-pricey\/","title":{"rendered":"Why Are Hearing Aids So Pricey?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Hearing loss is a big problem: <\/span><a href=\"https:\/\/www.nidcd.nih.gov\/health\/statistics\/quick-statistics-hearing\" target=\"_blank\" title=\"Quick Statistics About Hearing\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">almost 40 million American adults have some degree of hearing loss<\/span><\/a><span style=\"font-weight: 400;\">. Despite this, only <\/span><a href=\"https:\/\/www.nidcd.nih.gov\/health\/statistics\/quick-statistics-hearing\" target=\"_blank\" title=\"Quick Statistics About Hearing\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">about 30 percent of Americans over 70 years of age who could benefit from hearing aids wear them<\/span><\/a><span style=\"font-weight: 400;\">, and the numbers are worse for adults 20 to 69 years old; approximately 16 percent. Even though quality of life can be greatly improved by wearing a hearing aid, why do so many people choose not to? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">One\u00a0major reason\u00a0why people hesitate to wear hearing aids is the cost of the devices. Hearing aids can range in price from $900 to over $6,000. <\/span><a href=\"https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2016\/hearing-aid-costs-prices-cs.html\" target=\"_blank\" title=\"Why Do Hearing Aids Cost So Much?\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">The average price of a single hearing aid is $2,300, and most people need to wear two of the devices<\/span><\/a><span style=\"font-weight: 400;\">. In addition,\u00a0not many health insurance plans cover the cost of hearing aids, so most consumers have to pay out of pocket to improve their ability to hear. So, we need to ask: why are hearing aids so expensive?<\/span><\/p>\n<p>\u00a0<\/p>\n<div id=\"toc_container\" class=\"no_bullets\"><p class=\"toc_title\">Contents<\/p><ul class=\"toc_list\"><li><a href=\"#A_Manufacturing_Monopoly\"><span class=\"toc_number toc_depth_1\">1<\/span> A Manufacturing Monopoly<\/a><\/li><li><a href=\"#What_Goes_Into_The_Expense_of_a_Hearing_Aid\"><span class=\"toc_number toc_depth_1\">2<\/span> What Goes Into The Expense of a Hearing Aid?<\/a><\/li><li><a href=\"#Why_Are_Hearing_Amplifiers_Less_Expensive\"><span class=\"toc_number toc_depth_1\">3<\/span> Why Are Hearing Amplifiers Less Expensive?<\/a><\/li><li><a href=\"#Which_One_is_Right_For_Me\"><span class=\"toc_number toc_depth_1\">4<\/span> Which One is Right For Me?<\/a><\/li><\/ul><\/div>\n<h2><span id=\"A_Manufacturing_Monopoly\">A Manufacturing Monopoly<\/span><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">One of the reasons for the high cost of hearing aids is that a very small group of companies, about six manufacturers globally, control the large majority of the hearing aid market. Most providers of hearing aids maintain contracts with only two or three of those manufacturers, leaving\u00a0consumers without many options. However, we may see hearing aid prices change soon. The Food and Drug Administration Reauthorization Act of 2017 included a provision to mandate the availability of over-the-counter hearing aids to consumers with mild to moderate hearing loss. This provision was slated to go into effect in 2020 to allow time for the FDA to establish safety standards for the new devices (called PSAPs), which are expected to cost around $300 or less &#8211; a far cry from the average $2,300 people were expected to pay.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span id=\"What_Goes_Into_The_Expense_of_a_Hearing_Aid\"><b>What Goes Into The Expense of a Hearing Aid?<\/b><\/span><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Hearing aids are amazingly sophisticated pieces of technology &#8211; the time and resources devoted to both manufacturing and constantly improving them is considerable, and it&#8217;s no surprise they are expensive little devices. What many don&#8217;t know, however, is that when you purchase a hearing aid you are not simply buying the product. Included in this cost is also the professional audiologists fee&#8217;s and services!\u00a0The audiologist\u2019s portion of the hearing aid price includes things like retail space rent, training, licenses, diagnostic equipment, and marketing. An audiologist will typically spend three to four hours with each patient for hearing tests, evaluating their hearing loss, programming their hearing aids, and fitting them. All of this cost is reflected in the final price that a consumer pays for their hearing aids.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At face value, this may seem outrageous, but keep in mind that hearing aids are sophisticated medical-grade devices that are highly customizable. A licensed audiologist provides this customization and care based on their expertise: that expertise is not free. Another factor to keep in mind that keeps hearing prices up is demand: the entire hearing aid industry sells approximately three million devices per year. To put this into perspective, Apple sometimes sells one million iPads in a single day, and an iPad still costs several hundred dollars. Unfortunately, the cost of developing such a sophisticated device as a hearing aid combined with the relatively small market results in naturally high prices.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span id=\"Why_Are_Hearing_Amplifiers_Less_Expensive\"><b>Why Are Hearing Amplifiers Less Expensive?<\/b><\/span><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Hearing amplifiers, or <\/span><a href=\"https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2015\/hearing-amplifiers-psaps.html\"><span style=\"font-weight: 400;\">personal sound amplification products<\/span><\/a><span style=\"font-weight: 400;\"> (PSAPs), have not been approved as medical devices by the FDA. As such, they are not subjected to the rigorous standards and testing of a normal hearing aid, allowing for a cheaper and more mass producible product. Because of this,\u00a0<\/span><span style=\"font-weight: 400;\">however, they are much more affordable than traditional hearing aids, costing around $250 to $350 each. <br \/>PSAPs function to amplify quiet sounds and\u00a0typically include Bluetooth technology,\u00a0meaning you can stream music and receive calls with them. Some PSAPs also include noise cancellation and other features to help you hear better in noisy situations. The technology in PSAPs is continually improving, and soon consumers may even have difficulty in differentiating between PSAPs and traditional hearing aids. In fact, a recent <\/span><a href=\"https:\/\/khn.org\/news\/over-the-counter-devices-hold-their-own-against-costly-hearing-aids\/\" target=\"_blank\" title=\"Over-the-counter Devices Hold Their Value Against Pricey Hearing Aids\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">study<\/span><\/a><span style=\"font-weight: 400;\"> found that some PSAPs are as effective at clarifying speech for people with hearing loss as traditional hearing aids.<\/span><\/p>\n<p><\/p>\n<h2><span id=\"Which_One_is_Right_For_Me\"><b>Which One is Right For Me?<\/b><\/span><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">The bottom line when trying to decide between a PSAP and hearing aid is the severity of your hearing loss<\/span><span style=\"font-weight: 400;\">. Hearing aids are medical devices designed for those with hearing loss and damage. They are regulated by the FDA and fitted for your particular hearing needs by a professional audiologist. On the other hand, PSAPs do not require a prescription or hearing test, are not customizable to a person\u2019s specific hearing loss needs, and are not recommended for people with serious hearing loss. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For a more in-depth comparison, please read our <a href=\"https:\/\/www.oliveunion.com\/blogs\/the-olive-branch\/psap-vs-hearing-aid\">PSAP vs Hearing Aid<\/a>\u00a0article!<\/span><\/p>\n<p><\/p>\n<p><b>The information in this guide has been written using the following reliable sources:<\/b><\/p>\n<p><a href=\"https:\/\/www.nidcd.nih.gov\/health\/statistics\/quick-statistics-hearing\"><span style=\"font-weight: 400;\">https:\/\/www.nidcd.nih.gov\/health\/statistics\/quick-statistics-hearing<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.hear.com\/resources\/hearing-aid-technology\/hearing-aids-vs-hearing-amplifiers\"><span style=\"font-weight: 400;\">https:\/\/www.hear.com\/resources\/hearing-aid-technology\/hearing-aids-vs-hearing-amplifiers<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.healthyhearing.com\/report\/51934-The-case-against-personal-sound-amplification-devices\"><span style=\"font-weight: 400;\">https:\/\/www.healthyhearing.com\/report\/51934-The-case-against-personal-sound-amplification-devices<\/span><\/a><\/p>\n<p><a href=\"https:\/\/khn.org\/news\/over-the-counter-devices-hold-their-own-against-costly-hearing-aids\/\"><span style=\"font-weight: 400;\">https:\/\/khn.org\/news\/over-the-counter-devices-hold-their-own-against-costly-hearing-aids\/<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2017\/inexpensive-hearing-aids-safe-fd.html\"><span style=\"font-weight: 400;\">https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2017\/inexpensive-hearing-aids-safe-fd.html<\/span><\/a><\/p>\n<p><a href=\"http:\/\/www.hearingresearch.org\/ross\/considering_a_hearing_aid\/why_do_hearing_aids_cost_so_much.php\"><span style=\"font-weight: 400;\">http:\/\/www.hearingresearch.org\/ross\/considering_a_hearing_aid\/why_do_hearing_aids_cost_so_much.php<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.wbur.org\/hereandnow\/2018\/05\/15\/hearing-aids-cost-access\"><span style=\"font-weight: 400;\">https:\/\/www.wbur.org\/hereandnow\/2018\/05\/15\/hearing-aids-cost-access<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/2017\/10\/20\/well\/live\/why-are-hearing-aids-so-expensive.html\"><span style=\"font-weight: 400;\">https:\/\/www.nytimes.com\/2017\/10\/20\/well\/live\/why-are-hearing-aids-so-expensive.html<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2016\/hearing-aid-costs-prices-cs.html\"><span style=\"font-weight: 400;\">https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2016\/hearing-aid-costs-prices-cs.html<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.hearingreview.com\/hearing-products\/why-are-hearing-instruments-so-expensive\"><span style=\"font-weight: 400;\">https:\/\/www.hearingreview.com\/hearing-products\/why-are-hearing-instruments-so-expensive<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2015\/hearing-amplifiers-psaps.html\"><span style=\"font-weight: 400;\">https:\/\/www.aarp.org\/health\/conditions-treatments\/info-2015\/hearing-amplifiers-psaps.html<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most people that look into hearing aids are met with shock at the high costs of hearing aids. But do you know why they cost so much? And, just perhaps, are there\u00a0more affordable alternatives out there?<\/p>\n","protected":false},"author":2,"featured_media":793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveunion.com\/ustest\/hearing-device\/why-are-hearing-aids-so-pricey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Are Hearing Aids So Pricey? - Olive Union\" \/>\n<meta property=\"og:description\" content=\"Most people that look into hearing aids are met with shock at the high costs of hearing aids. 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