Are Audiologists Stuck in 2004?

Last week, an industry partner of AuDNet, Inc. (AudiologyOnline) published an article written by our President & Founder, David Smriga.  The article, entitled "Are We (Still) Asleep At The Wheel? An Update from Seven Years Ago", explores the changes, or lack thereof, in the Audiology industry with regard to marketing and positioning themselves as THE hearing experts and go to professionals for hearing health.

Below is an excerpt from the article.  Click on the link at the bottom to view the full article on AudiologyOnline.

For the last decade, my colleagues and I have both recognized and have tried to share with the audiology community several key factors vital to the audiology profession’s future growth and success:

-       All forms of audiology practice are essential for the audiology profession’s survival, but independent, autonomous practice is particularly critical:

a. Independent practices answer to no one other than their patients and with nothing other than their professional abilities when determining the services they provide, what they charge for those services, and what products (if any) are the best to treat those patients.
b. Independent practice ownership offers the greatest income potential, and is nearly double that of wage-based audiology compensation – a factor that is critical in response to the significantly greater cost and time now associated with earning the advanced degree. In addition, private-practice incomes positively affect the salary opportunities for wage-based positions.

c. Independent practices can market themselves any way they want – including marketing the value and importance of evidenced-based audiology care available as a result of their education and training.

d. A large component of this income advantage remains tied to hearing aid dispensing.

-       As corporate businesses continue to acquire and manage larger segments of the United States hearing care provider market, fewer independent and autonomous practice opportunities will be available and/or survive.

-       Using millions of marketing dollars, business corporations continue to define hearing care to the American consumer as predominantly a commodity-based purchase transaction (i.e., hearing aids).

-       Collectively, audiology is an enormous “customer” to most of these corporate businesses, and as such, has the potential to influence the decisions these businesses make.

-       There is an ever-narrowing window of opportunity for audiology to capitalize on this influence. Once control of the buying decision is lost, so is the economic influence it represents.

CLICK HERE to read full article.