05/04/2022
One of the first and largest advocates for Over the Counter (OTC) hearing aids is out of the game. Those of us in the hearing industry have known this will likely be the case for many companies that see the percentage of people with untreated hearing loss and think lower cost hearing aids can be a quick cash grab, or an altruistic effort if you're more of an optimist.
The service that goes into hearing devices is a large barrier to cost effectiveness for companies. The hearing loss treatment does not stop at the hearing aid fitting (which is a science and art unto itself), that is only the beginning. Among adjustments to the devices, your hearing aids will need care and maintenance. Why? Because your devices are being subject to your sweat, oils, hair products, skincare products, moisture, etc. 12-16 hours per day, every day.
Hearing healthcare professionals are highly skilled to know which part of the hearing device needs cleaning, drying, replacement, or be sent back to the manufacturer for repair. The latter part is where the cost incurs for the company. Hearing devices have warranties. So while that repair is covered, the company is still expending supplies and manpower to service. That all has to be covered by the initial cost of the device for the warranty period, which could be up to 3 years. And that is just the hearing aids that are repaired, I haven't even touched on the ones that are returned entirely after trial.
Audio and tech companies are used to selling consumer electronic products. Hearing aids are not consumer electronic products.
https://www.hearingtracker.com/news/bose-cease-hearing-aid-sales?fbclid=IwAR31nGoVF_li77r2I05n_tSoqglY-E54Nm8pSMTUGDPn1IZyKzt08Z9
Bose has eliminated its Health Division, which was working on over-the-counter hearing aids.