Hearing Aid Costs: The key factors to pricing

This video is about a brief explanation of cost factors of hearing aids. Remember every brand is different, there wont be too much detail about software specifically, but this is to get the general idea across.

The video focuses on two main factors, the Software of the hearing device and the Channel and Bands. Please do contact the manufacture about your hearing aids technology and more advanced questions. This video is only to give you some insight on the area I think plays a big factor in the hearing aids costs.

Hearing Aid Costs, what sets the price?

Ever wonder why a hearing aid device cost varies from low to high? I’m here to give a glimpse as to why the prices vary and what are the key factors. Many would assume design and material used to manufacture the device but this isn’t quite true. When it comes down to the pricing, it comes down to two main factors, Channels and Band and Software. You will see below how Channels and Bands work together. I will also shed some light as to why Software is what essentially determines the bulk of the hearing aid costs.

Channels and Bands

These two go hand to hand. It has to do with sounds and how it sounds. There is a rule of thumb for sound clarity; the more channels, the better the sound clarity/quality. For the best optimal channels for clarity, this falls on their person. It’s all preferential. Of course the better the quality, the higher the hearing aid cost will be. Roughly speaking, a hearing aid can have between 2 through 16 channels, with 16 having a higher hearing aid costs. Channels are what you can do with the sounds and Bands are how many times a frequency spectrum has been split.

Band is used to control the volume in different frequencies and Channels break up the frequency range into separate channels. So the more bands, the more frequency you can store, thus reducing the loss of sounds. Having more channels helps fine tune the range of frequencies in each channel. This way you can cancel out sounds that way too loud without having the deal with the loss of something quiet.

Software

This mainly determines the bulk of the hearing aid costs. The more advanced the software, the more it can do the greater the price. What do I mean by more advanced? Well some hearing aids can connect to all Bluetooth devices, television and numerous other electronic devices. What many users of hearing aids like is a sound smoothing software. What this does is balances the sound spikes so that the quality of the sound is bearable and smoother. A neat feature for wireless hearing aids are that the pairs are always in sync. If one aid is in one channel, expect the other ears hearing aid to be in the same channel. One other feature one would like is a rechargeable set over a non-rechargeable set.

You can think of Software in terms of a cellphone or computer. What sets one phone or computer apart from another? It’s typically the software the device comes with. The more advanced the software the higher the price. But, does everyone need the “best” cellphone or computer out there? This is where having some background in the device is helpful.

It’s usually better to not have someone else pick a device for you, I mean you’re the one who will be using the device. Coming in with a solid question and what you want in a hearing aid will always help the dispenser better fit your needs. What I recommend is figure out what features you want to have in a hearing aid, then contact the dispenser and ask if they can explain features of each software, why they differ and at each technology level. You then should find something that is comfortable for you. This should help minimize your hearing aid costs.

The link below has a list of devices with their price and features.

Hearing Aid Costs

Brought to you by ThePriceMesh

Hearing Aid Costs and the business world!

Why do hearing aids cost so much? It is a question asked by many people. There are numerous things that go into determining the price of a hearing aid. It could be the material used to develop it, the research required for the technology used in the hearing aid, the microphone and microprocessor, etc.

You could think of the price consisting of every cost required to first develop the device. I would say the research aspect would require the substantial investment. You have to first develop a device that helps you stick out from other devices. Once that is done, you can move onto actually manufacturing the device. This also adds cost to the hearing aid; the materials and electronic devices used could be cheap or expensive, this will be included in the final price of the hearing aid. And finally, the marketing and selling of the device. Now a days, if you cannot marketing your product well, no matter how great of a product you have, it most likely won’t sell. The company who develops the hearing aid will have to hire a team of marketers and sales representatives to promote and sell the product. This is a cost that the consumer has to pay as well.

We live in a business world where everything costs, in some shape or form. Companies are always looking to advance their products to the consumers but they have to go through some process to achieve it. The process requires money and time and that still may not always work out as planned. In the end, the goal of a business is to profit, but that has to come with a great product or service that people would consider. A business will invest money into a product or service and also pay for the marketing and sales help. This is what’s considered to be the cost operation of a product. I would say all of this is what helps determine the base price of a product but then more is added to gain profits for the business. I’m not saying this is bad business, but this is how the real world works. Buy/develop a product or service at a price and sell for a higher price for a gain in profit. Then rinse and repeat to keep the business going.

Hearing aid costs in my opinion are based on the business worlds drive for profit. What the point of making a hearing aid which costs somewhere around $20k? Who will buy that and why? Why choose the $20k device over another hearing aid that costs less $1k?

To sum this up, hearing aid costs are determined by the amount of money and time that is invested in research and development of the device, the materials used, the marketing and sales representatives expense and how much of a profit the business I trying to make with all the expenses included in the final hearing aids device.