When people buy hearing aids, they often have sticker shock with how expensive it can be. At Hearing Doctors of New Jersey we have set out to be honest and transparent about these costs and help you understand what in fact you are paying for.
Most hearing aids are sold with a “bundled” price structure.
What that actually means is that the hearing aids are marked up, and you’re told that “all services are included”. The price that you pay is a one-time amount that is often 300% over the wholesale cost of that device.
If you read between the lines, what they don’t always share is what those exact services are, how much the hearing aids are marked up, or what the services would cost if you bought them separately.
Unbundling can help you answer many of these questions!
We use an unbundled model to separate the costs of diagnostics and services from the cost of our hearing aids. We do this to be honest and transparent with our patients, to reduce out-of-pocket costs for our patients, and to ensure that our patients receive the services that they actually need. Our audiologists are contracted with several insurance companies and we will bill your insurance for those diagnostics and services when possible to reduce your out-of-pocket expense. You can then decide to pay for services at each visit or opt to purchase one of our annual unlimited service plans.
So how exactly does unbundling affect hearing aid cost?
Let’s take a look at an example. Let’s say the wholesale cost for a pair of premium hearing aids is $2,250 when you include parts and shipping. With a bundled model a typical markup is about 300% making your cost for that pair of hearing aids $6750.
At Hearing Doctors of New Jersey, since our prices are unbundled, the cost of that same hearing aid is much less. You can then decide to pay for the services you need at each visit or opt to purchase one of our annual hearing aid care plans.
Here’s a helpful example of an unbundled model versus bundled practices.
Not only is your cost lower with an unbundled hearing aid pricing, but some of the services listed in the unbundled model may be billable to your insurance plan. Meaning, your out-of-pocket costs may be even less than the price listed above. If you have any questions or are interested in scheduling an appointment with one of our Doctors of Audiology, please give us a call at 973-577-3166
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