Tech
Why Hearing Aids Are So Expensive And How That’s Changing
An estimated 37 to 48 million Americans have some form of hearing difficulty. Despite that only 14% of people with hearing loss use a hearing aid. But an FDA ruling in the fall of 2022 allowing for the sale of over-the-counter hearing aids could improve access for millions.
The new devices for adults with mild to moderate hearing loss cost as little as $199 and are sold at retailers like Best Buy, CVS and Walmart. Starkey, which got its start in 1967 and has produced tens of millions of hearing aids, said it has plans for an over-the-counter offering too.
So why are hearing aids so costly and what impact will over-the-counter devices have on people with impaired hearing?
To better understand how the devices are made CNBC got a behind the scenes look inside one of the world’s largest hearing aid manufacturers.
Watch the video to learn more.
Chapters:
0:00-2:07 Introduction
2:08-5:14 Hearing Loss
5:15-7:45 The cost of hearing aids
7:46-10:24 New technologies
10:25-13:09 Over-the-counter hearing aids
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Why Hearing Aids Are So Expensive And How That’s Changing
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@charlenehowellsmile7553
December 21, 2023 at 4:21 am
Make sure pedi con artist Jason gets one of these.
@akita96th
December 21, 2023 at 4:21 am
Of course they are going to try to try to justify their over priced hearing aids by claiming you are paying for the service. What they dont talk about is the high commissions these hearing audiologists get from Beltone and Miracle ear….It is exorbitant. It only taKES LESS THAN 30 MINUTES FOR A HEARING TEST THEN POOF $7000 or $6000 or $4000 bing botta bing KA-ching. Yes you are paying for a high priced service. Sure they can spare 30 minutes working with you once or twice in 6 months time for them kind of bucks. I went to Beltone recently and it was kinda packed and you have to book an appointment for a week or two in advance so that tells me they are busy as a one legged chicken selling these hearing aids. These toids in suits trying to sell me on why these hearing aids are expensive is laughable to say the least…I am going to COSTCO thank you.
@ChromaticLion
December 21, 2023 at 4:21 am
I hope those scientifics at Hardvart discover how to trigger regrow hearing cell therapy so they can go bankrupt
@user-vm1si4tx3p
December 21, 2023 at 4:21 am
Anyone else suffering from constant ear ringing? I suffered from tinnitus after I had an injury to the head , I Am grateful I came across dr Liam ogbebor on YouTube who’s herbal ear drop helped me remove the ringing in my head ,because the doctors here said that their is no cure for it but dr Liam’s treatment proved them wrong .❤😊::;:🎉😊
@Mulberry2000
December 21, 2023 at 4:21 am
Over the counter hearing aides is expensive at $199 but from audiologists direct they are $2,000 -8,000 that is shocking and should outlawed in the USA. Here in the UK that is England to Americans its £80 on the NHS. That is if you lose two hearing aides you have to pay. It is free no matter your income to get an hearing aide in the UK. Also batteries and ear hearing aide inner tube and cleaning pipes are free. It was good of the company to give the teacher free hearing aides.
@CrowdPleeza
December 21, 2023 at 4:21 am
Keep an eye on this research.
"Gene therapy restores hearing in children with rare form of deafness
The approach could help researchers develop therapies for other types of inherited hearing loss"
From:
Science
@splatmacpuffin
December 21, 2023 at 4:21 am
Even in countries where hearing aids are provided at no cost the acceptance rate is approximately 4-7% higher. There is still a perceived stigma with wearing hearing aids. On another note 60-70% of my patients would have minimal to no success with OTC devices. There is continuous ongoing care and service.
@lynnerholmes
December 21, 2023 at 4:21 am
I understand why hearing aids are so expensive. I understand that impressive amounts of technology, research, customization, and service goes behind the manufacturing of hearing aids. What I don't understand is how hearing aids are not covered under medical insurance, especially when they are what he called a "class II FDA approved medical device" in the video. Hearing aid customers are referred to as "patients," and my own audiologist wears scrubs. Hearing loss has been linked with social isolation and dementia. I personally was born with a severe hearing disability in both ears, and I paid $6,800 out of my own pocket for my current pair of hearing aids, and continue to pay for continued care, maintenance, and batteries.
@piotrwojdelko1150
December 21, 2023 at 4:21 am
i have the most expensive hearing aid and still it doesn't help if you have moderate problems
@keitymarley733
December 21, 2023 at 4:21 am
My sister is 32 years old and she has suffered from meniere disease for years and she always complains to me that I had to bought her Dr Madida herbs I saw on YouTube and she is telling me last month that she is cured completely and don’t long have the symptoms like vertigo or dizziness, feeling of fullness in the ear or ringing, hearing loss, imbalance, motion sickness, nausea, or nystagmus…
@williamwaters4506
December 21, 2023 at 4:21 am
Give it time and custom made hearings aids will drop in price. It is always about competition if you want to stay in business.
@MiguelAngel-fp9rr
December 21, 2023 at 4:21 am
Deberían invertir más en la cura de la audición………
@maxheadrom3088
December 21, 2023 at 4:21 am
Noise induced hearing loss requires eithe an explosion or long exposure to lound sound. I spent 5 years with an undiagnosed metabolic syndrome (at the time called syndrome x) because the first doctor (throat-nose-ear doctor) got in his head it was accoustic trauma. After visiting a specialist in hearing loss the correct diagnostic was made. So, two recommendation from someone with bilateral tinnitus:
1) Ask your doctor if he's sure it's noise induced hearing loss.
2) The MOST IMPORTANT: Always start using your earphones/headphones from volume zero and increase it slowly – there's no need to get too loud. Also, if your earphones/headphones sound better with louder sound then they are crappy. A decent good headphone/earphone is not expensve and some are quite affordable – and a lot less expensive then hearing aids. Go for traditional brands like Sennheiser, AKG, JBL, Audio Technica and Sony. The ones supplied by Apple, LG and Samsung are also good.
@aaron5364
December 21, 2023 at 4:21 am
They're so expensive because because we live in a capitalist dystopia, and we refuse to do anything of value for people unless someone can make millions off of it. Really high quality hearing aids could very easily be provided at no cost to patients if we had well-funded Medicaid for all. Screw the private insurance companies. It is their fault. No one should be profitting from peoples' need to hear properly, for god's sake. Notice how the narrator of this video refers to us as CONSUMERS rather than PATIENTS.
@jimmynorton1001
December 21, 2023 at 4:21 am
This video is terrible and inaccurate
@NightOwlPal
December 21, 2023 at 4:21 am
Just spent $6900 on a pair on behind the ear hearing aids from Phonak. Honestly don't know how or why they can demand such prices but yet i paid it and I'll be looking for overtime to get it off my credit card as fast as possible.
@Lp-ze1tg
December 21, 2023 at 4:21 am
Does hearing aid has anything to do with improving Dementia?
That's what the hearing test specialist told us after my Mom completed the hearing test. She wanted to charge us $4000 to purchase a hearing aid for my Mom.
@johnalexander5738
December 21, 2023 at 4:21 am
I have mid to severe hearing loss in both ears. The loss is not the same across the spectrum so the hearing aids that would actually help me to understand conversations are 6K to 11k and ins only wants to cover $1800. How the hell are people supposed to afford being able to hear? Hearing loss has been linked to early stages of dementia by Johns Hopskins research. I guess hearing is no big deal.
@fredrikmagnusson6469
December 21, 2023 at 4:21 am
I live in sweden, we get our hearing aids for free and only pay for the charger (around 50 bucks) if we decide to continue using it.
@Laufield
December 21, 2023 at 4:21 am
I remember I wanted get hearing aids, but doctor told me for I need pay hearing aids $4,000. Seriously??? I don’t understand why does hearing aids is so expensive than iPhone 14, TV scream HD, PS5, and many modern things for cheap. Hearing aids expensive is a very joke 😡
@mrsmith1339
December 21, 2023 at 4:21 am
I get my hearing aids through the Veterans Administration. They are the largest supplier of hearing aids in the world. You can apply to get into the VA medical system on line. Once in you are entitled to free hearing exams and no cost or low cost hearing aids. (Depends on your MOS)
The VA provides state of the art high tech hearing aids. I have my second set of Phonak Audeo P90's with a civilian retail cost of $7500 plus.
The VA supplies free batteries (get rechargeable) domes and wax guards, plus repair and replacement.
@shapursasan9019
December 21, 2023 at 4:21 am
A 'monopoly scam' that the five largest hearing aid manufacturers have been engaged in for decades.
@Willowy13
December 21, 2023 at 4:21 am
An Iphone is expensive. It is not essential to our lives the same way a hearing aid is. The price is straight up theft. These things are around for years. Why aren't companies able to make affordable ones as the technology advances?
It is a rethorical question really.
We know they don't do it because they don't want to. Big profit margins over people disabilities.
@maina9170
December 21, 2023 at 4:21 am
The beauty of modern medicine
@KennyEvansUK
December 21, 2023 at 4:21 am
Americans getting ripped off again, stop voting Republican, look how they have voted to prevent fully funded, universal healthcare, like the rest of the civilised world.
@daniellemorrison7154
December 21, 2023 at 4:21 am
😑
@daniellemorrison7154
December 21, 2023 at 4:21 am
😒
@AntonioIndelicato
December 21, 2023 at 4:21 am
Hearing professionals make life more complicated for those who have hearing loss. I have a lot of experience with them. Many are greedy for money. I said all! Over the counter hearing aids hopefully will help us to be free of hearing professionals who make false promises to those who are in real need!!