So I have a Question.

[altivolant]

Well some time ago, my Grandpa, (who is the one that suffers from hearing loss) brought up how ridiculous it was that the cost of hearing aids is in the thousands of dollars range. I found this to be rather surprising especially since it's the only thing keeping him from getting one.

Anyways, I got back home thinking there was no way he could be right and went on a lengthy internet search to find that what he said was absolutely true!

Then I read all the articles about why aids cost so much and that a lot of it is based on the research costs and the small numbers sold; but nothing, that to me, could really justify how someone could be expected to spend roughly 3k or more on a hearing aid in 2008 when there's iPods and laptops and many more complicated electronic gadgets available for fractions of the cost.

And so, since then, I've had this idea of trying to design a hearing aid that would cost somewhere in the low hundreds, would have a significantly greater aesthetic appeal than current aids, and maybe wouldn't have all the features of the top aids; but, would still perform, at the very least, on par with the least expensive aids, but optimistically significantly better.

And that's my main reason for creating this thread... how interested would you be if a product like this was to come out? Additionally, considering the huge number of people that have hearing loss yet don't have an aid, do you think it could have the potential to appeal to them as well?

I'd really appreciate your responses to this as well as perhaps what your views are of the industry... pleased, disappointed, etc. Also, any comments about what you may like or not like about hearing aids would be helpful too.

I realize that if I was to really try and do this that it would be a huge challenge with lots of risk (I've already heard this from several people before); but, I know that it could benefit a lot of people and on top of that, I'm young, and nothing that's worth having will ever be easy to get.

Thanks and I greatly appreciate any responses.

[ZCT]

It's an interesting idea. I've been in the industry since 1994, and if I though there was a way to do this, I'd have already done it.

Let's look at some facts here. Your market is about 10% of people over 55. So let's say 6-8% of the population. Of those people none of them want your product. Why? Take a look at the UK. Unlike the US people there can get hearing aids and other health services for FREE because they have socialzed medicine. And yet they STILL don't want them!

So you need to start with the mindset that a significant number of the 6-8% of the population that could use the product, don't want it even if you are giving it away.

Next, you are competing with companies that invest between $10m-$60m each year on research and development. That is what Starkey, the largest American hearing aid company, has spend on R&D each year for the past ten years. In fact their investment has grown year on year in the past ten years. With last year being around $60m, the most in the history of the company.

Next you need to find people to fit your product. At some point a professional will need to conduct a test and/or take impressions of the patients ears. As well as check them for medically referrable conditions.

Then you have to consider that at least 50% of hearing aids in the US are custom built to the exact shape of the patients ear. Refuse to offer this and you just lost half your market. Do it, and you just increased your manufacturing cost dramatically, since you are now not making an iPod or a cell phone, but a bespoke unique product.

Now to compete with other hearing aid manufacturers and comply with the law, you need to offer a 30 day trial on your hearing aids. If a patient doesn't like them for any reason, they can give them back to you, and the most you can charge is a reasonable restock fee.

You can't resell this product since it is now used, and you have a legal obligation to let a patient know it is used if you intend to sell it. And the market for used hearing aids is not that strong.

So you have a number of serious problems to overcome. And frankly, if it were that easy to do, I would imagine that one of the major players in the hearing aid industry would have already done it.

If you really look at the problem from ALL angles, it is not as simple as you might think.

But whatever you do, good luck.

[EnglishDispenser]

Before I started my practice I spent about a year and a LOT of money looking into doing EXACTLY what you suggest.

It's not a simple task!

You (or your team) need a LOT to reach success, including:
- money, money & yet more money (many, may $1000s!)
- technical skills in plastics
- technical skills in electronics
- skills in audiology
- technical skills in acoustics
- technical skills in software
- technical skills in battery technology
- skills in marketing
- detailed knowledge of the WHOLE global hearing aid market
- a convincing personality to impress investors, bankers, suppliers, customers etc
- a market for your product!
- industrial production skills
- a repair and maintenance team
- documentation skills

In short you have to be VERY VERY good.

If you are THAT good then a major corporation would hire you for a HUGE salary.

If you wanted to do your own thing then hearing aids would NOT be it - the above skill set would earn you VASTLY more money if you worked on a web project or a mobile comms project.

[yvr]

My limited undestanding is that hearing aids falls under medical device. As such it has to meet a whole host of stringent qualifications (medical and legal).

iPods, hearphones, earbuds are not medical devices and hence don't carry that heavy qualifications requirements and associated cost. Even hearing assistant products like Pocket Talker, sound alarms etc. are not medical devices and are affordable. Sure, there are very cheap 'personal hearing assistant/amplifiers' but they are not sold as hearing aids and don't carry the liabilities in case their use cause damage to your hearing.

A crude comparison is reading glass and prescription glass. You can get affordable reading glass straight off the shelves but the cost for presciption glass can be hefty with many options to pick depending on fashion, durability and affordability. However the market for eye glasses is huge! If even HA market can approach that sort of size, I'm sure the cost would come way down to earth.

As a first time user, I went with a qualified audiologist and glad to say that I am served well. I forked out 3K for a pair but considering the testing, fitting, follow-ups and warranty, I think it's worth it.

Cheers.