Hearing aid sales in the United States during the first quarter of 2015 increased by 11.32% compared to the same period last year, with nearly identical strong sales for both the private sector and the VA.
According to statistics generated by the Hearing Industries Association (HIA), hearing aid unit sales in the United States grew by 4.76% in 2014—topping 3 million units for the first time in industry history. Hearing aid sales in the private sector increased by 3.4%, while the VA (which accounted for 21.6% of the US market) increased its units dispensed by 9.8%.
The hearing aid industry will top 3 million units in 2014. Here is a review of projected 2014 hearing aid sales and a perspective on what the growth of Costco represents for the overall hearing healthcare market.
Results from a study published in the October JAAA indicate that the so-called “hearing aid effect” has diminished, if not completely disappeared, in the 21st century.
A special 1-hour seminar, “10 Winning Tips for Patient Loyalty,” moderated by long-time industry researcher Sergei Kochkin, PhD, included both established factors and new ideas for increasing patient loyalty in an era when repeat customers and patient referrals are vital to a hearing care practice’s survival.
Christopher Schweitzer, PhD, examines word usage, and related confusion surrounding the PSAP terminology and designation, in the hearing health industry--primarily for hearing aid consumers. Relatively recently, the term 'PSAP' has been introduced and circulated within the profession to represent a personal sound amplification product, leading to consumer confusion. This unfortunate outcome is perhaps the reverse effect of the FDA's "Guidance" paper’s intent to clarify product distinctions.
Effective marketing requires establishing benchmarks for successful efforts, collecting the data generated by your marketing tactics, and measuring their success or lack thereof through ROI analysis. Ultimately, ROI analysis provides you with the knowledge and ability to adjust your marketing plan to capture beneficial trends or eliminate wasteful spending.
According to the HIA, total hearing aid units dispensed are 3.9% above last years' figures. Commercial sector (non-VA sales) hearing aid unit sales are 2.5% higher that they were at this point last year; the VA's dispensing activity has increased by 9.3%.
In Part 3 of this series, Brian Taylor, AuD, looks at the unmet needs of individuals with hearing impairment and the increasing importance of establishing deep, long-lasting relationships with your community, physicians, and patients through education on health issues—or what Dr Taylor refers to as “interventional audiology.”
CareCredit and TIMS Audiology Software have announced the launch of newly integrated features that provide hearing practices with instant desktop access to program information and payment options that help patients get recommended hearing care.
This week, in Part 2 of our 5-part "State of the Industry" series, Amyn Amlani, PhD, presents an overview of his research that involves the inelasticity of hearing aid pricing, the advantages of unbundling prices, and how smartphone amplification applications and devices for use as starter hearing aids may reduce the adoption time for consumers who ultimately purchase a hearing aid.
As we consider present and future marketing tactics, we would do well to learn some important lessons from history. This article maps the customer’s journey—looking at Baby Boomers in particular—and reviews some points for engaging the customer of today.
In terms of customer loyalty, hearing care professionals must find ways to eliminate saboteurs from their practice and substantially increase the number of apostles so that the latter comprise the majority of customers in a given practice. Here’s how you can do it.
Last April, just prior to the American Academy of Audiology (AAA) Convention in Orlando, The Hearing Review hosted a “State of the Industry” dinner sponsored by CareCredit that drew more than 100 distinguished audiologists and industry experts to see presentations on four important topics that are central to private practice hearing care from Karl Strom, Amyn Amlani, Brian Taylor, and Dan Quall.
If you are wanting to enter the search market and grow your brand—essentially crossing the Rubicon for the first time—you should know that, depending on your market, competition can be fierce. But a strong effort to grow visibility and differentiate your brand from those against the competitive backdrop is the surest strategy for success.
Audigy has achieved a partner status with its online publisher. The online publisher’s partnership program is available to a select group of companies, which have hit certain thresholds in their advertising platforms, in addition to superior campaign management.
Commoditization and changes in hearing aid distribution are unsettling. Hearing Review Editor-in-Chief takes a look at the issues of concern in his July 2014 Staff Standpoint column.
If hearing care professionals want to stay competitive and relevant, and attract new patients, they need to level the playing field. One of the most effective ways to do this is through differentiation. This article explores several key findings from a recent benchmark survey, and offers practical advice on putting these findings into action.
HearingTracker.com allows hearing care professionals to track their fitting-outcomes in real time and serves as an online resource for consumers to help them identify top-performing professionals in their area.
In just over a decade, RIC/RITE hearing aids have taken over half the US hearing aid market. What implications does this hold, and will RICs continue on their unparallelled growth trajectory?