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3 Reasons Why Hearing Aids Are So Expensive [CC]

3 Reasons Why Hearing Aids Are So Expensive [CC]



On this video, I share three large explanation why listening to aids are so costly.

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00:00 Intro
00:40 Inhabitants with listening to loss
01:00 Purpose 1: Analysis & Growth
02:07 Purpose 2: ???
02:45 The Huge 7
02:50 Purpose 3: Sturdiness
03:27 Gross sales Techniques

Listening to Support: Cochlear BAHA 6 Max
Listening to Support Batteries: Energy One Measurement 312
Digital camera: Huawei P30

ABOUT THE CHANNEL
A Deaf & Onerous of Listening to millennial who wears ear prosthetics and a bone anchored listening to help, navigating the world one audible at a time. I create inspiring, enjoyable and academic movies to get you thru the great occasions and the dangerous.

Audio Transcript
The value of a median behind-the-ear listening to help has greater than doubled since 1997. What has modified, and why are listening to help costs not reducing, particularly when electronics like TV, computer systems and even cellphones have gotten cheaper? I will inform you all about it on this video.

Good day, my identify is Yat. I am Deaf with out listening to aids, Onerous of Listening to with listening to aids. I used to be born with microtia, the place I haven’t got outer ears. I put on ear prosthetics and have profound bilateral listening to loss. I put on a bone-anchored listening to help. You’ll want to like and subscribe to this channel to observe together with my hard-of-hearing journey.

Over 5% of the world’s inhabitants, or 430 million individuals, at present require rehabilitation to deal with their listening to loss. That is greater than everybody that lives within the US AND Canada mixed. So why are listening to aids so costly when so many individuals want them?

Purpose 1: R&D. Analysis and Growth.
Producers spend substantial R&D assets making your listening to aids smaller, extra highly effective and filled with extra options like Bluetooth, wi-fi integration, distant controls and different issues like channels.

However does everybody use all of the options? Do you really maximize each different operate obtainable in your listening to help? Properly, let’s consider it this fashion.

If it’s essential go from A and B, a pleasant automotive like a BMW will supply a bit extra consolation with fancy bells and whistles on the dashboard. However a Honda Civic, which I used to personal, additionally will get you from A to B safely and comfortably. However on the subject of listening to aids, you aren’t getting to decide on a Honda. The one possibility is to purchase the BMW. The price of entry for a listening to help is effectively greater than different electronics.

Purpose 2: Trade monopoly
Regardless that the semiconductor trade historically reduces the price of merchandise by 10-15% a yr, listening to help costs enhance 8% yearly. I imply, microphones and processing chips aren’t that costly. A top quality listening to help prices at the very least $300 to make however can price you upwards of $3-4,000 to buy one! The listening to help trade isn’t large and is dominated by seven listening to help producers: Widex, Signia, Oticon, Resound, Starkey, Phonak and Cochlear.

Purpose 3: Listening to aids are getting smaller
Listening to aids are worn every day. It takes in all the weather of the earth like mud, moisture and even the occasional bumps from being hit across the ear. Listening to aids have prolonged sturdiness, and most listening to aids final 5-6 years of every day use. That is a very long time! Producers acknowledge this and capitalize on it by figuring out it could mark up costs as a result of they’ll achieve this. Some clinics will go so far as utilizing artistic gross sales ways to affect you to buy. You could have heard these earlier than: The listening to help prices $7,000, however it has an 8-year life span. That is solely $875 a yr and solely $2.39 a day to listen to your grandkids! Is it reasonably priced? When you can afford it, hey, you go for it. However nobody desires to interrupt the financial institution for something, so be sure that to buy round for the very best value, particularly should you really feel strain from an audiologist or a listening to clinic.

Within the feedback part under, let me know should you suppose listening to help must be cheaper and extra reasonably priced to the common individual residing in North America. You’ll want to like and subscribe to Let There Be Ears. Till subsequent time, goodbye!

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View Comments (5)

  • Yes, the cost of hearing aids should decline by the same rate that other high-tech products do, such as Apple Airpods and similar products. Battery density and cost have declined at an incredibly fast pace. Bluetooth standards have been well established for years and all products that utilize them have plunged in cost over the past decade. Microphones and other electronics have likewise fallen in price in line with advances in manufacturing. The hearing aid isn't even all that small compared to what's currently being fabricated today. Intel has just rolled out Icelake with a 10nm feature size and TSMC has likewise dramatically reduced the feature size of their fabricated transistors in their integrated circuits. I work in the software industry. Software used to take an extraordinary amount of labor to develop. We're seeing productivity gains of over 100% every twenty years. Better yet, most auditory algorithms are open source or similarly in the public domain. Making these algorithms tunable for the specific frequency response of a person's current hearing is not rocket science. Add to this, inexpensive 3-D printing that enables the shape to be custom made. As an engineer, I fail to see how this monopoly can persist for more than another decade. Soon, hobbyists will be able to manufacture their own hearing aids for a fraction of the current price with a feature set that's akin to Tesla S, using modular components and designs that are all covered by a GPL open-source license. It's time that hearing aid manufacturing was liberated. Alternatively, we could push for an update to the ADA so that hearing aids are covered by the federal government and this legislation could require standardization, R&D investment levels, and a fixed profit (that's much smaller than what these monopoly companies are currently earning today.) Hearing aids should be provided like a public utility, similar to a natural monopoly. We don't choose to get cold during the winter. So we collectively come together as a society to ensure that heating is affordable to everyone. This is no different.

  • I think the cost of hearing aids is somewhat justified but there should be cheaper options as well.
    Unfortunately hearing aids suffer from the same "medical tax" markups as other medical devices.

    P.S. Yat you might want to check your captions. They're a little disconnected from your audio.

  • I don't think the cost should necessarily be cheaper, but I DO think they should always be covered by insurance. Period. We don't choose to be born with hearing difficulties or have accidents or illnesses that cause hearing loss/deafness to occur. This is part of healthcare and should be covered as necessary equipment to improve your life. If you CHOOSE to go for the most expensive option because you WANT to and not because its what is necessary, then sure, you should have to cover the excess, but if that is what your hearing loss requires, it should be covered. The issues isn't with the cost, it is with insurance companies not wanting to cover actual medical needs. I'm very fortunate to not be under American insurance as I live in the UK. My aid will be fully covered, including the cost of batteries!