INND - Providing Clarity in a Noisy DTC Hearing Aid Market: The Growth of InnerScope Hearing Technologies Inc. (INND)
- 37.5 million Americans report some degree of hearing impairment each year, many of which can’t afford the high out-of-pocket costs of prescription hearing aids
- InnerScope offers a comprehensive portfolio of affordable products that do not require a doctor’s prescription
- In recent months, InnerScope has made accretive acquisitions and more than tripled its staff, further cementing its position in the market as Walmart’s biggest provider of hearing aids
There is a case to be made that direct-to-consumer (“DTC”) is the future of hearing aids. Unfortunately, prescription hearing aids are rarely covered by insurance and can cost thousands of dollars. Akin to “cheaters” as a less expensive alternative to prescription reading glasses, personal sound amplification products (“PSAPs”) are available over the counter, but they aren’t as high quality or customizable as prescription hearing aids. Thanks to advancements in technology, companies like InnerScope Hearing Technologies (OTC: INND) are spearheading next-generation products that make hearing aids affordably available without a person having to set foot into a professional’s office.
In 2018, the U.S. Food and Drug Administration changed the game with its approval of the Bose Hearing Aid for use in adults 18 years and up with perceived mild to...
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