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Audiology Practices vs. Costco?

MarkeTrak 10 data suggests audiology practices don't need to compete on price — they need to demonstrate the value of professional care.

← All news·May 20, 2022

Amid competitive pressure from big-box retailers selling hearing aids at low prices, audiology practices sometimes wonder whether they can still compete. MarkeTrak 10 data suggests the answer is yes — provided practices emphasize the clinical services that retailers cannot replicate.

According to MarkeTrak 10, the hearing test that demonstrated need was the single largest purchase motivator for new hearing-aid users, and trust in the Hearing Care Provider (HCP) was second. Trial period length was also positively correlated with hearing-aid ownership: patients who had longer, supported trials were more likely to purchase and keep their devices.

Three takeaways for practices

1. Focus on patient-centered care. Patients are not shopping for a commodity — they are buying a relationship and a clinical outcome.

2. Discuss trial periods openly. Generous, guided trials increase the likelihood of a successful fitting and long-term ownership.

3. Establish patient trust. Nothing a retailer can do replaces a relationship with a clinician who is invested in the patient's outcome.

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