Was this a ‘breakthrough’ on hearing aid pricing? Mull over the phrase from the KFF announcement (italics are mine), “Prices and features will vary for the new OTC hearing aids — much as they do for prescription aids. A pair of prescription devices typically sells for $2,000 to $8,000. Some of the technology found in the pricier prescription aids will be available in the cheaper OTC aids.” This was also true of the Personal Sound Amplification Product” (PSAP), described in 2017 as being helpful to people with mild to moderate hearing loss. What took the FDA 5 years to complete final review of essentially the same technology available in 2017, especially when they were ordered by Congress to do so? Note hat 48 million Americans have some degree of hearing loss (more than 400 million worldwide) and most do not have any hearing assistance devices. Note that uncorrected hearing loss is correlated with dementia.
TOKYO and LYNGE, Denmark, Sept. 13, 2022 /PRNewswire/ -- Sony Corporation ("Sony") and WS Audiology Denmark A/S ("WSA") have entered into a partnership agreement and various ancillary agreements with the aim of jointly developing and supplying new products and services in the over-the-counter ("OTC") self-fitting hearing aid market, beginning with the United States.
The biggest older adult tech news from August was audible. The US Food and Drug Administration approved the over-the-counter sale of hearing aids. Ironically that will not actually be official until October. The implications are staggering – hopefully the implementation will match. The big five hearing aid manufacturers will once again remake and remarket themselves, their brands and pricing to fit the new rule. Also in August, a new report on the status of US broadband access was released, highlighting major expansion underway. Here are the five blog posts from August 2022:
Yesterday was a big day that should have happened several years ago. Finally.The US Food and Drug Administration approved the over-the-counter sale of hearing aids for those with mild-to-moderate hearing loss. Consider that this was first proposed in 2017! Consider the hearing aid ecosystem that has grown over many years to involve audiologists, a shrinking number of hearing aid makers – only five control 90% of the market! Consider the high price (upwards of $6000 per pair), limited insurance company assistance, and much individual isolation, misery, and family frustration. Consider the now-known and studied connection between untreated hearing loss and dementia. Consider the multi-year delay between the onset of hearing loss for individuals, especially men, and actually doing anything about it. Consider the social isolation experienced by those with hearing loss.
Thrilled to announce that after years of research we are debuting our new product: the Neosensory Clarify. This is a stand-alone wristband that replaces the need for hearing aids.
As people grow older, they lose the ability to hear high frequency sounds, making it more difficult to understand conversations. Traditionally, the only solution has been hearing aids (~$5000). We set out to change that.
Isn’t March a l-o-n-g month? So many weeks, so many blog posts to, uh, post. Note the top trends that matter this year. Many changes underway in the enabling tech categories for older adults – including the importance of tech for home care agencies – not just the apps for the workers, but for care recipients, such as remote monitoring. And for hearing aid wearers, the smartphone can carry multiple apps that improve their quality of life. Finally, the smartwatch, aka personal emergency response device, gets another entrant – and the very first mobile PERS ('medical alert') company, Mobile Help, is acquired. Summing up the month:
The biggest older adult tech news from August was audible. 
Yesterday was a big day that should have happened several years ago. Finally. 
Isn’t March a l-o-n-g month? 