OTCs – How Do We Win?

The fact is “Over the Counter” (OTC) hearing aids are here to stay. As a person that tries to be ahead of the curve, I investigate and contemplate how to handle this new era in hearing healthcare.

I’m sitting here with my current price sheet trying to determine what to change. Unbundle? Itemize? Stay the same? I agree with the looming voices that say “Change is needed,” but what’s the best approach? When things are going well in business, I don’t think it’s prudent to completely upset the apple cart, but I do agree that we have to show value for all the services we provide and demystify what’s included in the investment in a Hearing Rehabilitation Plan.

I have an unbundling option and the people that choose it don’t return for regular visits, so I believe that unbundling in an established practice will result in reduced revenue for a period of time.  That’s fine if the business can survive without that revenue and if it can’t then increased marketing dollars will be necessary to attract new patients to make up that lost revenue.

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