For millions of Americans, hearing impairment can severely impact their quality of life. In addition, the inability to hear correctly can lead to many new health issues, including the early onset of dementia. Unfortunately, the cost of hearing aids is often too expensive for the average person to afford. InnerScope Hearing Technologies is a company looking to change that by bringing hearing aid devices directly to consumers.
According to the National Institute on Deafness and Other Communication Disorders, 48 million Americans have hearing loss. However, the market appears to be notoriously underserved. Only 14% of people with hearing problems use hearing aids, primarily due to the high cost of hearing aids. The price of hearing aids can range from $1,000 to as much as $6,000, with additional expenses such as hearing tests, follow-ups, and ongoing support from healthcare professionals often not covered by health insurance. This has resulted to any people forego getting hearing aids altogether.
One of the significant barriers to entry into the hearing aid market is that consumers must get them from a doctor or a specialist. This obstacle prevents competition and keeps hearing aids extremely expensive. As a result, the four largest hearing aid manufacturers control 84% of the global market.
InnerScope Hearing Technologies is positioned and poised to disrupt the traditional hearing aid market model. The company brings hearing care out of the clinics and offers a direct-to-consumer over-the-counter model that does not require a prescription or a doctor’s visit. In addition, they offer shipping directly to consumer homes and through an in-store model using InnerScope’s innovative point-of-sale Hearing Screening Kiosks in large retail chains and pharmacy chains.
InnerScope is emerging as a disruptive leader in the so-called “Over-the-Counter Direct-to-Consumer Hearing Technology Market.” Their marketing strategy is centered around helping people get the hearing aids they need, selling at a fraction of the cost of those sold by major competitors. The company allows those with limited budgets to buy superior-quality hearing aids directly for as little as $44 per month.
The lack of Medicare and private insurance coverage or limited coverage on hearing aid devices makes it challenging to obtain affordable hearing aids. InnerScope has recently launched its hearing aids and related hearing products on FSAstore.com, HSAstore.com, and WellDeservedHealth.com for the 70 million consumers enrolled in flexible spending accounts (“FSA”), health savings accounts (“HSA”), and employers’ health incentive programs.
Through its dedicated online stores, iHEARdirect.com and HearingAssist.com, and its multiple wholesale and retail partnerships, InnerScope offers over-the-counter affordable, FDA-registered, Bluetooth app-controlled, rechargeable medical-grade hearing technology to empower consumers to take control of their hearing care. InnerScope can deliver the same level and quality of hearing technology and professional expert support for customers from their homes at a fraction of the cost of traditional channels.
The company features full-streaming, Bluetooth rechargeable app-controlled hearing aid devices, cleaning supplies and ear care products, and batteries. All hearing aids are FDA-registered, over-the-counter medical-grade devices and include professional remote programming and support services with one of InnerScope’s Doctor of Audiology and licensed hearing professionals.
InnerScope has been successful in helping millions of Americans hear again. The company’s mission is to improve the quality of life of people suffering from hearing loss by offering affordable, high-quality hearing aids and related products. InnerScope’s CEO, Matthew Moore, says its success is due to its commitment to transparency and customer service. They are dedicated to ensuring customers’ satisfaction with their products and services.
InnerScope’s innovative approach to the hearing aid market has been well-received by consumers. The company has received numerous positive reviews and testimonials from satisfied customers. InnerScope is helping millions of Americans hear again by providing affordable hearing aids and related products.
