Real-Time Hearing Aid Sales Analysis
Based on Sikka Software installed in some 850 hearing health-care offices in the United States, Boechler (2015) reports that hearing aid sales in 2014 were lower than 2013. Specifically, she reports (on average) each practice sold 23 units per month in 2013 (276 units annually) and only 19 (228 units annually) units per month in 2014. With regard to pricing mix and “premium” units (those priced over $3,000/unit), Boechler reports in 2013 the average practice sold 10 premium units per month, whereas in 2014, sales of premium units averaged 6 per month. She notes that as of June 2015, the market is trending similar to 2014. Boechler reports that the total number of patients has remained stable, despite a sharp decrease in new patients as of March 2015. Finally, she reports “gross production” is also down, with practices earning $800 per visit in 2014, as opposed to $1,400 per visit in 2013 (the decrease here may be related to the decrease in premium units).
For More Information, References, and Recommendations
Boechler A.(2015) Sales Trends in Hearing Care Practices: 2013-2015. Hearing Review June 19.