Why are hearing aids so expensive?
Some people ask why are hearing aids expensive. Approximately 48 million Americans report a significant hearing loss. Among adults aged 70 and older with hearing loss who could benefit from hearing aids, fewer than one in three has ever used them. The majority of the people that need hearing assistance don’t receive it. Why is that? This is mainly because hearing aids are often associated with a stigma of being either dumb or old. The other reason is cost. Most hearing aids are not covered by their health insurance, which in turn makes it an out of pocket expense.
Hearing aids can vary in cost anywhere from $2,000 up to $7,000 for a pair of hearing aids. When purchasing hearing aids, you are not only buying a high powered computer that is worn in or over your ear, you are investing in your hearing health. Extensive research goes into developing the technology that makes the hearing aid run. Teams of specialists including engineers, audiologists, psycho acousticians must collaborate to create microprocessors, amplifiers, receivers that are millimeters in size.
Another part of the price is the highly trained specialist, often known as the Doctor of Audiology. The Audiologist works with the patient to develop their individualized hearing plan. This includes a comprehensive audiogram (hearing test), and speech testing. Hearing aids are customized, programmed and fine-tuned according to the results of the test as well as the patients’ feedback. The patient often returns to the office several times over the course of the life of the hearing aids to get their hearing aids cleaned, checked and reprogrammed.
Let’s look at it another way. If a pair of hearing aids cost you $5000, and they have an average life expectancy of five years, if you break the price down, they will cost you $1000 per year, $83 per month or $2.78 per day. In other words, while the lump sum is rather high, the price to use them every day for 5 years is much more reasonable. Monthly, it amounts to what you might pay for a phone bill. Daily, it’s much less than you would pay for a cup of coffee at Starbucks. Most people will agree that the price is well worth the benefit of hearing health.