Hearing aid sales in Big Box stores like Costco are here to stay! While the hearing aid market isn’t growing very rapidly, the share that Big Box stores have is the fastest growing segment of the hearing aid market. The Hearing Review estimates Costco’s US market share to be around 11% of total sales, with […]
Scheduling effectively seems to be a daily conundrum in my practice. Everyone wants to be busy and to have a continuous stream of patients but having too many patients in a given amount of time can be exhausting not to mention squeezing in the unavoidable walk-ins that we all deal with. So what’s a good […]
As mentioned in a previous post, the debate over bundling versus unbundling in hearing aid pricing rages on. Although the unbundled method of pricing is seen in only a minority of practices, the issue has come front and center because the cost of hearing healthcare is seen as being too expensive, even by our government. […]
The hearing healthcare industry is changing. When I started my business, I was the only audiologist in a county of 150,000 and now I have seven competitors within seven miles. Competition is increasing; Big Box stores are killing us on price; hearing aids are literally available everywhere; insurance companies are turning over their hearing benefits […]
The debate over bundling versus unbundling in hearing aid pricing rages on. Although the unbundled method of pricing is seen in only a minority of practices, the issue has come front and center lately. Many believe that bundled pricing keeps the focus on the product itself instead of on the provider’s expertise. “Our services, and […]
According to industry statistics, less than 30% of people that need hearing aids actually purchase them and if you believe what you hear or read on social media, it’s all about the money. OTCs, TPAs, Big Box retail must also believe that money is the biggest objection because they certainly have impacted the market by […]
You may dread having to tell a patient that you diagnosed a hearing problem and then have to suggest that the patient purchase a plan for hearing help which usually includes hearing aids. Most patients don’t jump up and down and say, “That’s awesome news” or “Oh boy, I can’t wait to spend thousands of dollars […]
I don’t like to bake but this is my favorite kind of cake! Everyone seems to struggle getting new patients in the door and with the myriad of mediums, it becomes increasingly difficult to determine where to place the message. There is no one or easy answer to the chaos called marketing and unfortunately, nothing […]
I read this excerpt from my favorite book Creating a Wealthy Spirit by Chellie Campbell and it reminded me how important it is to surround ourselves with the right people. “There are three kinds of fish in the sea: Dolphins, Sharks, and Tuna. Dolphins are wonderful creatures: intelligent, happy and playful. They have been known to ward […]
What do you think is the number one mistake practice owners make? Not charging enough, working too little, too few employees, too many employees?? In truth, all of these can be a problem for business owners but the NUMBER ONE MISTAKE practice owners make is not knowing the breakeven point. The breakeven point occurs when your business […]