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Is There a Hearing Aid Price Bubble?
An anonymous reader writes "The price of a pair of hearing aids in the U.S. ranges from $3,000 to $8,000. To the average American household, this is equivalent to 2-3 months of income! While the price itself seems exorbitant, what is even more grotesque is its continuous pace of growth: in the last decade the price of an average Behind the Ear hearing aid has more than doubled. To the present day, price points are not receding — even though most of its digital components have become increasingly commoditized. Is this a hearing aid price bubble?"
I'm sure the average American household is well above that.
They may be counting single-occupancy dwellings as "households," but the important part is, probably a great many of the people who require hearing aids are either already on fixed income or are close to retirement.
And if there is a price bubble, the Chinese will be right there to correct it.
TFA claims the ones we're paying $2,000 for are already being manufactured in China for $100. The problem is that a hearing aid is technically a durable medical device. Many people prefer to consult with a professional to get the right model, correct fit, etc., and some states actually forbid hearing aids being sold by mail or by anyone other than a licensed professional. So that kinda puts a damper on the grey market for many people.
Breakfast served all day!
An article on how expensive hearing aids are from a hearing aid company that advertises their low costs.
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Capitalism at its finest.... people have needs... you have answers.... gouge em till they stop asking! Or gouge their insurance and drive rates up for everyone.
CAPITALISM DOES NOT BELONG IN MEDICINE. SINGLE PAYER, NON PROFIT. DO IT.
This is one of the biggest reasons why social security is in trouble.
This is so wrong! You have bought into the shell game and misdirection that so many politicians have been leading. The Social Security trust fund holds over $2.5 trillion. Most of this has been lent to other under funded government projects. That's the problem. We don't want to pay back the the money we borrowed from the Social Security system and instead say the system is broken. It isn't. The systems is fully self funded. We've just been treating the huge Social Security surpluses as a giant piggy bank for so long that we find it easier to say Social Security is broken than pay back the money we stole!
"... obviously wasn't as good as what you could pick up in Europe. I don't know what they paid for the hearing aid, but it seems to me like something funny is going on."
I would say that the "something funny" is just raw American ignorance. There's lots of higher-tech products and infrastructure in other countries. But we're brainwashed to believe that it's not, by definition, possible for America to be behind the curve. In many ways.
We know where leadership by an anti-intellectual "strongman" who scapegoats minorities and likes boisterous rallies goes
Here, we have coverage for hearing aids from the government. However, there is restrictions on the make, models and types of hearing aids we can pick from. There is a list reviewed every two years or so. Usually, the government make a deal with few manufacturers after asking them to answer to a public RFP (Request for proposals). They set guidelines and the manufacturers must bid as well on a 6 years maintenance plan for their own devices. Those with the lowest prices meeting the requirements for each category win. The drawbacks of this approach is the devices are always end-of-line models. If you want to pick one not on the list, you have to pay it in full. This permit most individuals with hearing loss to have access to hearing aids devices at the price of having access to low-end models only.
Achille Talon
Hop!
Even babies are getting older these days.
"Who is the Journal of Quantum Physics going to believe?" --Stephen Hawking
Hearing aids are regulated by the FDA which is why it costs $5k or so in paperwork.
Here is capitalism. It looks like a hearing aid but it is really a sound amplifier so it is not regulated by the FDA. It costs $70.
http://www.amazon.com/Voxom-Hearing-Aid-Sound-Amplifier/dp/B005AM7S3K/ref=sr_1_9?ie=UTF8&qid=1315622221&sr=8-9
I love Jesus, except for his foreign policy.
isn't wanting something cheaper just as greedy as wanting something more expensive?
If I demand a $5 hearing aid how is that less greedy than charging $5k? Value is set by the individuals on both sides of a transaction.
Paying taxes to buy civilization is like paying a hooker to buy love.