There are several options on the market for Private Label hearing aids. They are often being pushed as an added value because you’re not paying for the “name brand” attached to a hearing aid but still the same quality guts inside. Is there any truth to this? Are they a better value?
Let’s look behind the scenes at the hearing aid manufacturers. Most of the products being sold to hearing aid clinics are the latest chipsets and technology. The manufacturers make their money by touting the benefits of the most recent advancements which helps to fuel their never-ending research and development. What happens to their older products? Two things. First, they get sold to clinics at a discount to reduce the inventory. Clinics will pass this savings on to the end user because of the pricing structure that is set up in Ontario, where we are required to sell hearing aids at cost, without markup.
The second thing that is done with the excess discontinued products, is to relabel them and offer them to clinics as a premium, private label. This title gives the illusion of exclusivity which can then be promoted as the most recent product available, because it is the most recent available under that name. These private label products are typically sold at a higher price than the comparable name brand products however give the illusion of a great buy.
No one should ever be faulted for looking at the best value options. If budget is a primary concern, open communication with your care provider is important so your concerns can be met.