The High Cost of Hearing Loss

We have been working closely with Consumer NZ as they investigate the hearing aid industry.

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The high cost of hearing loss: Our unregulated industry

 Date: 20th September 2023

Key Takeaways from Consumer NZ:

• Consumers are routinely paying thousands of dollars for hearing aids amid concerns that their welfare isn’t the top priority for clinics.

• Large multinational manufacturers and retailers own more than 80% of hearing clinics in New Zealand, and just eight manufacturers control 90% of the hearing aid market worldwide.

• Bundling and other pricing practices make it difficult for consumers to figure out what is included in the price of hearing aids and how much they really cost before engaging a clinic.

• Some consumers report feeling unable to choose their own audiologist when making a claim to their insurer for lost or broken hearing aids.

• It’s difficult for the average consumer to determine whether audiologists employed by multinational retail clinics are receiving commission or sales incentives or not.

• Audiology as a medical profession remains unregulated by the government, exposing both audiologists and consumers to undesirable outcomes driven by the corporate nature of hearing care.

• The Australian Competition and Consumer Commission put the hearing aid industry on notice in 2017 after similar reports emerged from consumers and clinicians, and we're calling on the Commerce Commission to do the same.
  

You can TRUST the advice given at Hearing Consultants 

as we DON’T participate in

 commission-based selling or preferred supplier schemes.

Media Release: Consumer NZ makes noise about the hearing aid industry.

You can TRUST the advice given at Hearing Consultants 

as we DON’T participate in

 commission-based selling or preferred supplier schemes.