Why Can't Industry Design an Affordable Hearing Aid? 549
Hugh Pickens writes "Tricia Romano writes in the NY Times that over the last 10 years, purchasing a hearing aid had become even more difficult and confusing than buying a new car — and almost as expensive. 'I visited Hearx, the national chain where I had bought my previous aids. There, a fastidious young man spread out a brochure for my preferred brand, Siemens, and showed me three models. The cheapest, a Siemens Motion 300, started at $1,600. The top-of-the-line model was more than $2,000 — for one ear. I gasped.' A hearing aid is basically just a microphone and amplifier in your ear so it isn't clear why it costs thousands of dollars while other electronic equipment like cellphones, computers and televisions have gotten cheaper. Russ Apfel, an engineer who designed a technology now found in all hearing aids, says there is no good reason for the high prices. 'The hearing aid industry uses every new thing, like digital or a new algorithm, to raise prices,' says Apfel. 'The semiconductor industry traditionally reduces the cost of products by 10 to 15 percent a year,' he said, but 'hearing aids go up 8 percent a year annually' and have for the last 20 years."
Re:clones? (Score:5, Funny)
Re:three words, one hyphen: (Score:4, Funny)
Insurance companies barter/bargain for the lowest prices.
They say, we have this many people over this age, and they are likely to buy hearing aids. Give us a deal and we will pay it minus the copay
If it were individual, it would be like a car salesman... attempting to charge the highest price, ask you to take out a loan and pay it.
Some people will barter, but we all know the for-profit from OP was correct.
Re:three words, one hyphen: (Score:5, Funny)
I haven't checked, but I'll bet they'd even make Apple blush...
Royalties (Score:5, Funny)