InvestorWire NewsRoom

Article

InnerScope Hearing Technologies Inc. (INND) Brings “Direct-to-Consumer Hearing Technology,” Poised to Disrupt Notoriously Underserved Hearing Aid Market
September 15, 2021

InnerScope Hearing Technologies Inc. (INND) Brings “Direct-to-Consumer Hearing Technology,” Poised to Disrupt Notoriously Underserved Hearing Aid Market

  • Hearing aids are prohibitively expensive for millions of Americans due to market concentration and the requirement that people must see a medical professional before purchasing hearing aids
  • INND’s marketing strategy brings the “Direct to Consumer” model to the hearing aid market amid growing recognition that the current traditional model may not be sustainable
  • Matthew Moore, company’s CEO, was featured on New to the Street, explaining how the company is committed to helping people get the hearing aids they need at significantly lower costs

In a recent feature on New to the Street, Matthew Moore, InnerScope Hearing Technologies (OTC: INND)’s CEO, informed the audience how the company remains committed to change the lives of millions of Americans with hearing impairment, helping them get the hearing aids they need at a fraction of the cost compared to the traditional hearing healthcare clinics (https://ibn.fm/SIEq7). Although 48 million Americans suffer from hearing loss, the market appears notoriously underserved. The price of hearing aids, which for many is a medical necessity, is so steep that only 14% of people with hearing problems use them (https://ibn.fm/KRynJ), which created the UnderServerd Hearing Aid Market.  For millions of Americans and their families, quality of life can be severely impacted, as hearing impairment can often lead to new health issues, including early onset of dementia. 

The costs of one hearing aid alone can range from $1,000 to as much as $6,000, that’s usually not including additional expenses that can occur, such as hearing tests, follow-ups, and ongoing support from healthcare professionals (https://ibn.fm/2NmjN). As those costs are often not covered by health insurance, it is no surprise that many people forego getting hearing aids. 

One of the key drivers of these prohibitive costs keeping the millions of Americans from getting the necessary hearing help is that consumers must get them from a doctor or a specialist, a major barrier that prevents competition and keeps hearing aids extremely expensive. For example, the four largest hearing aid manufacturers control 84% of the global hearing aid market. 

InnerScope Hearing Technologies is positioned and poised to disrupt the traditional hearing aid market model and bring hearing aid devices straight to consumers’ by shifting hearing care out of the clinics to online, shipping directly to consumers homes or, through an instore model using InnerScope’s innovative point of sale Hearing Screening Kiosks, located in large retail chains and pharmacy chains. As a result, InnerScope is emerging as a disruptive leader in the so-called “Direct-to-Consumer Hearing Technology Market.” 

In a recent feature on New to the Street, Matthew Moore, InnerScope’s CEO, explained how the company’s marketing strategy is centered around helping people get the hearing aids they need, selling at a fraction of the cost of those sold by the major competitors. Given the lack of Medicare and private insurance coverages or limited coverage on hearing aid devices, InnerScope makes it possible even for those with limited budgets to buy superior quality hearing aids directly for as little as $44 per month (from the company’s website). In addition, InnerScope recently launched its hearing aids and related hearing products on FSAstore.com, HSAstore.com, and WellDeservedHealth.com, for the 70 million consumers enrolled in flexible spending accounts (“FSA”), health saving accounts (“HSA”), and employers’ health incentive programs.

For more information, visit the company’s website at www.INND.com and the company’s e-commerce website: www.MyHearIQ.com

NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).