Hearing aids are too expensive! Yet, according to Dr. Harvey Abrams, the Director of Audiology Research at Starkey Laboratories, the price of hearing aids, once adjusted for inflation, has remained stable since 1975. Even when digital signal processing was introduced to hearing aids in 2000, a slight increase in pricing occurred that has remained stable for thirteen years.
As technology has progressed, it seems reasonable to assume that the cost to manufacture hearing aids would decrease as well. This would seemingly pave the way for lower pricing. However, because hearing aid manufacturers produce federally regulated medical devices and new technology about twice each year, this tends to offset any reduction in manufacturing costs. (Imagine if Apple released a new iPhone or operating system every six months?) So, why are hearing aids so expensive?
A blog by Dr. Bettie Borton, a Clinical Audiologist in Alabama and President of the American Academy of Audiology, points to multiple expense indicators: