audiology cost disease

The Metaphor Monologues: In Search of Effective Treatment Options

Baumol described a chronic economic disease of healthcare and other direct services due to service wages that must rise on the back of stalled productivity while manufacturing labor costs rise naturally on the back of increasing productivity. The result is increasingly expensive (some would say inefficient) services to administer increasingly efficient devices. For dispensing audiologists,…

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US Ear Device Patents in August 2018

Sometimes it’s the little things in life that require attention, such as how to keep track of your sunglasses and Hearables (c.f. USPTO #10052235: Lanyard with integrated ear plugs and retractable sheath).   Sometimes it’s the little ones in life that deserve attention. “Headset enabling extraordinary hearing” (USPTO #10051372 ) by Bose doesn’t bestow auditory superpowers on children. But it…

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audiology cost disease

The Metaphor Monologues: Treatment Options for Chronic Cost Disease of Hearing Healthcare

This series’ first post introduced William J Baumol’s theory of economic cost disease, manifest in personal service professions’ and industries’ reliance on fixed-time, face-to-face encounters to deliver and perfect the goods.  Generally stated, Baumol’s conundrum is that service wages must rise on the back of stalled productivity while manufacturing labor costs rise naturally on the…

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audiology cost disease

The Metaphor Monologues: Unhealthy Practices

A previous post described Baumol’s “cost disease” as a metaphorical affliction of personal services ranging from hair care to audiology, all requiring face-to-face service delivery. In his book on the topic, Baumol identified the wage market conundrum facing audiology practices that dispense manufactured devices, using an illustrative example of 2% wage increases across the board:…

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