Why Do Hearing Aids Cost So Much? - Part 2

TECHNOLOGY

Back in 1983, the cost for a home computer was $6,000. Now, you can buy a PC literally 1000 times faster for 1/10 the cost. That kind of price reduction is not going to happen with hearing aids because so few hearing aids are sold compared to computers.

Just 20 years ago, most hearing aids were analog; they were not programmable and certainly not digital. Hearing aids had no software; they were adjusted using a screwdriver. None had directional microphones, FM, remote controls, and Bluetooth didn't exist. In 2008, all those things are common. These things just didn't "happen". They are the result of hearing aid manufacturers investing heavily in developing new technology and features. The cost to the manufacturer for staying on the bleeding edge of technology is a killer. Consumers, of course, pay for those advances. This cost is spread over a relatively small number of units sold. The cost of research is relatively fixed. For example, it takes a team of engineers X amount of time (and equipment and related costs) to design a new hearing aid circuit. However, if only one person purchases that circuit, that one person pays the whole bill. If ten people purchase that circuit, they each pay a tenth, and on-and-on.

Hearing aids with older technology are available at lower prices, but when most people buy a hearing aid, they want the best they can get, not the best that was available 20 years ago.

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