Celebrating Sennheiser Hearing’s 1st Birthday!

Sennheiser Hearing launched their OTC and situational hearing solutions one year ago. Sennheiser’s off-the-shelf solutions empower hearing healthcare provider providers (HCPs) to broaden their care to become more comprehensive providers, creating new opportunities and building new revenue streams.

 

AudiologyOnline: It’s been one year since Sennheiser launched their new portfolio of OTC and situational hearing solutions. How is it going?

Jessica Dancis: It has been a successful year since Sennheiser launched their new portfolio of OTC and situational hearing solutions. We are thrilled with the quality and consumer satisfaction with the All-Day Clear OTC hearing aids. Additionally, we are excited to educate providers on the benefits of expanding their care to assist those not yet ready for prescription hearing aids, helping them to broaden their care and generate extra revenue. This dual approach has fostered both consumer and provider engagement, furthering our mission to improve hearing health.

AudiologyOnline: While working with HCPs to help broaden hearing care, what have you learned?

Jessica Dancis: In discussing the broadening of hearing care with off-the-shelf solutions, we have learned that many hearing care professionals primarily focus on remediation through hearing aids. Newer research supports the approach that addressing hidden hearing loss and very mild hearing losses can significantly improve hearing, comprehension, and social outcomes. Many professionals have moved away from fitting TV solutions due to the popularity of TV connectors paired to prescription hearing aids. Off-the-shelf solutions enhance hearing care by addressing gaps that prescription hearing aids don't cover, thereby improving outcomes for a broader range of individuals.

AudiologyOnline: Your approach to the OTC market is to incorporate HCP services on a fee per service basis. What challenges have you encountered when recommending this approach to HCPs?"           

Jessica Dancis: We have learned when discussing integrating charging for OTC hearing aid services that many practices believe they are still bundled and lack a mechanism to charge for services, even when they are already billing some services separately. The large majority of practices participate in third-party referral networks (TPRNs), which include service charges after the initial service period. The same billing concepts applied to TPRNs can be used for off-the-shelf solutions, facilitating a smoother integration of charging for OTC hearing aid services.

AudiologyOnline: What do you tell HCPs who say they can fit a prescription hearing aid for around the same price as All-Day Clear and make more revenue?

Jessica Dancis: Let’s start off by remembering that OTC hearing aids are for people who want a more of a self-service journey. OTC are complementary to your practice and bring additional revenue to your prescription solutions. Comparing the revenue generated by prescription hearing aids and OTC hearing aids is like comparing apples to oranges because with prescription hearing aids, all services are typically bundled into the overall cost. Whereas OTC hearing aids sales are more streamlined and operate on an à-la-carte model where any services come at an extra cost. Therefore, the per hourly rate for OTC hearing aids is typically significantly higher.

AudiologyOnline: Can you give an example of the margins and per hourly rate when an HCP sells an All-Day Clear and a prescription hearing aid at the same price?

Jessica Dancis: Absolutely. If you have a low-cost hearing aid that generates $500 in margin for the set and you spend 270 minutes (about 4 and a half hours) with the patient between the fitting, adjustments and warranty follow-ups, your per hourly rate is around $166/hour. When you sell All-Day Clear it usually only takes around 10 minutes for the initial sale and no fitting or follow-up visits are required. Your margin may be lower, at $350, but your per hourly rate is $2100/hour. Not only do you make almost 13x as much money per hour when you sell All-Day Clear, the sale can be managed by your PCC or audiology tech leaving more time for the HCP to see additional patients and make additional sales. Adding in the All-Day Clear In-Clinic Care Package’s one appointment for $200 in margin, your per hourly rate is still almost 4x more than for a prescription hearing aid and your margin is $50 more than the set of prescription hearing aids.

AudiologyOnline: Tell me about your OTC hearing aids.

Jessica Dancis: Sennheiser All-Day Clear are FDA cleared as self-fitting OTC hearing aids. All-Day Clear comes in two sleek and stylish RIC options, with an out-of-the-box fit for various ear shapes and sizes.  Designed for all day wear and powered by Sonova technology with MFA Wireless connectivity, All-Day Clear are unique Sennheiser solutions and deliver exceptional hearing performance. The hearing aids are self-fitting and ready-to-wear and empower hearing care professionals (HCP) with an array of options that enable them to customize the hearing aids for their patients.  All-Day Clear is the only OTC hearing aid that can be programed by HCPs, like a prescription hearing aid. Our in-clinic care package gives consumers the option of purchasing professional support when they need it.

AudiologyOnline: You mentioned the In-Clinic Care Package. What is it and how does it help?

Jessica Dancis: All-Day Clear is the only OTC hearing aid that can be programed by HCPs, like a prescription hearing aid. Our in-clinic care package gives consumers the option of purchasing professional support when they need it. It presents an opportunity for HCPs to build new relationships, regardless of the point of hearing aid purchase, and to follow-up with services. This connection to the HCP can grow to future hearing care and to prescription hearing aids as their hearing loss progresses and they need more diagnostic and service solutions.

AudiologyOnline: Tell me about your solution for people whose primary challenges are background noise.

Jessica Dancis: Sennheiser Hearing’s mild gain true wireless hearing device, the ConC 400, effectively addresses hearing challenges in background noise. The ConC 400 enhances speech intelligibility and provides protection in noisy environments with Active Noise Cancelling (ANC), making it ideal for enjoying activities in places like restaurants and sporting events. This device is recommended for patients who experience hearing difficulties, fatigue, or distractions in noisy settings, offering improved auditory experiences and comfort.

AudiologyOnline: Tell me about your solutions dedicated to streaming TV and media, and when an HCP would recommend them over a prescription hearing aid with a TV Connector.

Jessica Dancis: Prescription hearing aids with a TV connector are ideal for patients needing amplification across various settings, offering comprehensive hearing support and direct TV and media streaming. Sennheiser’s TV and streaming solutions fill in the gaps for patients who don’t need or want to wear amplification when not streaming, and for those who want an additional streaming option for when they aren’t or can’t wear their hearing aids. Sennheiser’s TVS 200 and Set 880 deliver crystal clear TV sound, with the TVS 200 being perfect for tech-savvy patients needing mild gain and enjoying streaming through earbuds and app controls. The Set 880 is a powerful, easy-to-use system, recommended for patients needing a TV and music solution without managing a hearing aid, or for those who prefer to remove their hearing aids at night while watching TV.

AudiologyOnline: How do I learn more about Sennheiser Hearing?

Jessica Dancis: Contact Sennheiser Hearing Support, your dedicated HCP and consumer team, at SHSUS@sennheiser-hearing.com or 1-866-435-5646 to learn more and take advantage of our promotional offer.