Do High Profits Stymie Innovation and Swell Prices? Unsticking Adam Smith’s Hand

“Signal & Noise” is a bimonthly column by Brian Taylor, AuD.   Profits are an essential part of a free enterprise system. They provide employees and their families with an income, give shareholders a return, foster innovation and signal where capital needs to be invested in order to improve or grow a business.   Profit…

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Hearing Healthcare: Fish or Fowl?

March Phonak-Costco Madness ushered in urgency to the health of hearing healthcare providers.  March Mayhem was foreshadowed for 3 years in Hearing Economics posts, starting with resurrection of 1990s prognostications of professional schizophrenia and bimodalism stemming from creative destruction. And lo, it came to pass as disruptive technologies and economics came among us and we were sore afraid. Otherwise,…

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Pumpkin Pie with missing slice by Mark Kelly, Heartspring.net © 2012

Private Sector Hearing Aid Costs and Markup

“The success of the final product of services and hearing aid is dependent much more upon our services than it is upon the product. ”  Catherine Palmer PhD  Audiologists and licensed practitioners believe those words, based on years of experience with patients.  That’s why most of us do what we do and charge what we…

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Markup Gets a Makeover: Hearing Aid Pricing Part 12

“We don’t treat the product as a commodity other than the fact that the acquisition cost of the product is a line item.”  Catherine Palmer PhD  Last week took issues with unmarked black boxes and the misuse of “markup” with reference to hearing aid sales. Today’s post continues the theme by introducing better boxes to…

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http://www.adweek.com/news/advertising-branding/ad-day-holiday-inn-express-148485

Accounting 101: More Guts than Money

Numbers aren’t my love and I’m no accountant,  but I did stay at a Holiday Inn Express once. That, plus owning a variety of Audiology practices, forced me to learn basic accounting.  All of us in private practice must clear the accounting hurdle. We can’t really know if our businesses are succeeding or failing without a…

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