When you can sell a product of the same quality at less than half the price than that of a competitor, you may have just struck business gold. Audiotoniq, with hearing aids and related products, is about to do just that.
A hearing aid gets manufactured. Then it gets sold to the audiologist or hearing aid dispenser. You, the consumer, then purchase the hearing aid from the middle-man at a significant markup at a cost of $4,000-$5,000 a pair – $3,000 if you are one of the very lucky few whose insurance covers the purchase, still a significant outlay. Or maybe you decide to wait another year, because the problem isn’t quite that bad or because you are waiting for it to get cheaper.
But if you do wait, two of two things will happen: your hearing will have gotten worse and you will end up paying even more for the same product. Unlike computers or flat-screen TVs, hearing aids have increased in cost every year for the last two decades. “It’s a broken business model,” says Harold Mindlin, Vice President of Marketing and Sales. “It’s a highly underserved market, where the consumer is…disappointed, because their expectation levels are greater than the deliverables.”
Audiotoniq plans to deliver.
By selling online, Audiotoniq is aiming at the DIY consumer with moderate to severe hearing loss – those tech-savvy Android, iPhone, and Blackberry users – who may not have the time or inclination to go through other distribution channels. And by selling online, Audiotoniq will provide significant savings to the consumer. Audiotoniq isn’t the first company to sell hearing aids online, but they will be the first company to sell hearing aid devices that will be calibrated to an individual’s hearing loss.
Unlike other online sources that sell one-size-fits-all models or simply sound amplifiers (which will make your hearing worse), Audiotoniq’s consumers have the option of submitting audiograms which are the hearing loss profiles that allow specialists to accurately calibrate hearing aids to a specific individual’s hearing loss. Further, purchasers will have access to hearing aid specialists on staff so that if there are any issues, they will have their Audiotoniq audiologist just a phone call away.
The tech isn’t too shabby either. With a very successful background in chip design and management, Audiotoniq’s CEO, Russ Apfel, knew that he wanted to provide his customers with an advanced high-end device, which is exactly the product they have created. One of the many limitations of hearing aids of past is that they do not account for changes in the environment. If you are wearing hearing aid, sitting in a movie theater is a very different experience than sitting at your office. Now, the exact details can’t be revealed – suffice it to say, Audiotoniq’s devices will have unique and sophisticated features unavailable in other hearing aid models.
Over forty million Americans suffer from some hearing loss. Of those, somewhere between seven and eight million own a hearing aid. Some 20% of those seven or eight million don’t even use their hearing aids. There is a large market. To service this market, Auditoniq will have several products out in the coming year including a self-administered hearing test through physicians. Their hearing aid device will be introduced June 16 at the Hearing Loss Association of America Convention in Washington D.C.
Mindlin says it best.
We believe that we are introducing a new age of hearing aids and instruments that offer greater control, substantially greater control to the consumer than has ever been offered before at a very cost-effective price while being able to maintain the high quality of product that is available from other companies.
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Visit their website at www.audiotoniq.com or give them a call at (512) 961-4890.
This company is making a number of inaccurate statements. The “middle man” is the medical professional, the audiologist, who can help the patient (client, customer, user) seek proper medical treatment when that is necessary. 15-20% of hearing loss is medically or surgically treatable and no mail order technology will diagnose these important conditions.
The Audiologist also navigates the myriad of programming changes to best match the users acoustic needs, physical changes to optimize the physical fit, and translating the users observations into appropriate hearing aid settings. Again, a mail order customer service rep can use words of encouragement but no tangible hands-on assistance.
“They will be the first company to sell hearing aid devices that will be calibrated to an individual’s hearing loss”- other mail order houses have been trying this for years. While mail order aids can be set for the hearing loss it’s impossible to “calibrate” for an individual ear unless you are physically hands-on with that ear, face to face.
“One of the many limitations of hearing aids of past is that they do not account for changes in the environment” – this capability has been a fundamental technology in most hearing aids for 10 years.
The developers of AudioToniq may indeed be new the marketplace but their delivery model and claims of innovation are long established in other products in the existing marketplace.
We will see if this is true innovation or another attempt to oversimplify something that is inherently a complex treatment situation.
I agree with you Scott. There are many issues with the above article. These technologies are NOT new. Hearing aids are a custom product. No two ears, hearing losses, or lifestyles are identical. An audiologist or dispenser can provide the in-person support needed for an individualized product. This is not a digital camera.(one size does not fit all). It is also illegal in many states to sell hearing aids through the mail.
Bravo Scott and David. I absolutely agree. Hearing aids are not commodities. Consumer Reports urges people to have real ear measurement done when getting hearing aids. You can’t do that except in person! The education and experience of the person doing the measurements and programming the hearing aids is important to the success, as is counseling. People who have lost their hearing over time tend to like their hearing aids set too low to do them the most good. They have to be encouraged to let their brains adapt to the new sound, with the settings slowing increased over time. Try doing that through the mail! Plus “a self-administered hearing test through physicians” already exists, didn’t work out too well for the Docs that bought the machine, as insurance won’t cover it and computers can’t modify their routines for people who don’t understand.
As the Consumer Advocate for Audiotoniq, I’m pleased to see so much interest in our company from the comments on this article. However, I’d like to briefly address the concerns mentioned here regarding our approach to treating hearing loss.
Please be assured that Audiotoniq has worked very closely with well-respected audiologists and other hearing loss professionals every step of the way as we’ve developed our products. In addition, we will have audiologists on staff to provide personal service to our clients and we also have an audiologist on our board of directors. We very much respect the skills, knowledge and expertise of the audiology profession.
We will soon be making a national announcement about our unique approach to addressing hearing loss. The announcement will provide in-depth information about our products.
We do not expect to deter anyone from seeking treatment from more traditional providers. But there is a large population in our country and world-wide who suffer from hearing loss but go without treatment because of cost, convenience and concerns about the stigma of wearing hearing aids. As a result, their lives may be drastically compromised. Hearing loss is near epidemic proportions. Our objective at Audiotoniq is to provide people with hearing loss and their families with information and treatment options—in effect, taking the testing and treatment of hearing loss mainstream. There is room for a technological revolution in the battle against hearing loss.
For more information, please visit http://www.audiotoniq.com.