A brand new Siemens hearing aid can cost nearly $3,000 from a dealer. But you can buy pretty much the same thing for less than $250 elsewhere. Why is this? Well, let me tell you some secrets of the trade that will tick some hearing aid dealers off:
The number #1 reason a hearing aid gets so expensive is the custom fitting. This process only costs about $50 to the dealers who create the custom fittings, but they charge over $1,500 to the customer for this process! That is why so many dealers will insist you NEED a custom fitting, because it's their biggest profit center. The majority of hearing aid wearers can't tell the difference between their custom hearing aids and a one-size-fits-all hearing aid.
With the new adaptive silicone materials hearing aids are made with nowadays, you don't really need a custom fit solution anymore. Custom fittings were necessary 10 years ago, but not any more.
If you go with a one-size-fits-all hearing aid you can save more than $2,500!
The #2 reason a hearing aid gets so expensive is the extra features. Just like a car dealership tries to make you spend more by adding on useless features, a hearing aid dealer will do this, too. However, if you just want a standard unit - one that doesn't have all the bells and whistles, but will still help to improve your hearing - you can often get these for under $1,000. Unless you need some of the more advanced features such as Bluetooth (Bluetooth hearing aids are something hardly anyone actually needs), you don't need to pay more for these features.
Then the #3 reason a hearing aid from companies such as Siemens, Starkey, ReSound, or Oticon can be so expensive is the brick and mortar costs the dealers have. When you buy from them, you are paying all of their overhead such as utilities, expensive signs, and large customer lobbies. However, if purchased online, you can save massively since online retailers dont have to build those costs into their prices. If you follow these three steps:
Buy a one-size-fits-all model that anyone can wear.
Dont pay for needless features that you are unlikely to use or even want.
Buy online from a reputable retailer.
Then, you, too really can buy a $3,000 hearing aid for less than $250!