Hearing Economics

Hearing aids are categorized as Class 1 or Class 2 medical devices by the Food and Drug Administration. The large majority of hearing aids are in the Class 1 category, which means they are exempted from the premarket notification and FDA clearance requirement. Hearing aid manufacturers are required to register their establishments and bring their products into compliance with a

In the very first post (https://hearinghealthmatters.org/hearingeconomics/2011/case-of-the-de-capitated-audiologists/), we heard from Dr Rick Lazich and his partner, who were negotiating a contract for audiology services in state long-term care facilities. … and there were a bunch of dentists involved somehow.  At that point, his group had just ponied up big bucks to hire actuaries to help with the process. Today, he’s sent in an update as

The hearing aid industry made the financial pages recently, when the CEO, CFO, and Chairman of Sonova Holding AG announced their resignations, simultaneously and suddenly.  Sonova says it is the “world’s largest hearing-aid maker” and I’ll take their word for it.  Sonova owns a number of well-known hearing aid brands, such as Phonak, Lyric, Hearing Planet, and others.  Here is

  Economics isn’t taught in the hearing healthcare curriculum, but it should be!  We are witnessing Adam Smith’s Invisible Hand at work, steering hearing healthcare markets toward equilibrium through massive and/or rapid shifts in consumer demands, professional training, technological advancement, capital investment, industry consolidation, regulatory control, product and service distribution, and strategic pricing.  We’ll look at some of those market

I’d like to kick start this blog by sharing an interesting query that arrived in my email this week from Rick Lazich, AuD: Dear Dr Dunn.  We are a two member audiology group that provides services/hearing aids onsite in long term care facilities in (state). We have done a fee for service practice for the past seven years. Medicaid has