State hearing aid company builds legacy on price, value

Twenty-seven years ago Economy Hearing opened its first location with a business model that seemed odd to many: at a time when hearing aids sold for around $900, Economy Hearing was offering the same aid for $295.

In the years since, however, Economy Hearing has grown from a one-man show run by owner John Bachman, to a business with five metro locations and multiple satellite offices across the state.

“Over the years, we have seen many other hearing companies pop up, then go out of business; it’s like a ‘here today, gone tomorrow’ situation,” Bachman jokes.

“But we have withstood the test of time; we actually often end up taking in patients from these other hearing aid centers when they close.”

Bachman said that to be successful, the business aims to keep prices competitive across the board.

Sometimes that means not charging for things at all. Included in the price of each hearing aid is a complete audiometric exam, and a factory warranty.

Breaking industry norms, Economy Hearing does not charge their patients for cleanings, adjustments, or in-house repairs and service.

And when patients of other, closed businesses come to Economy Hearing — they don’t pay for service, either.

“We treat patients we get who come from other hearing centers as if they were our patients to begin with,” Bachman said.

One in four people are in need of hearing aids. Many people in need of hearing aids do not wear them, however.

Bachman believes there are a few factors at play, one of which is self-consciousness.

“People generally view themselves as younger than they are,” he said.

“Also, they don’t want it to be obvious that they are wearing a hearing aid. But hearing aids have come a long way; I could be wearing one right now, and you would never even notice.”

But above all else, Bachman thinks people think with their wallets.

“I think price is the number one reason why people who need hearing aids don’t actually get them,” Bachman said.

“Lots of people will go and just buy hearing aids online, and they even admit they know it’s not a good hearing aid. People are willing to give up quality for a lower price.”

At Economy Hearing, they don’t have to give up quality.

Economy is a Premier Starkey Hearing Technologies dealer.

Starkey Hearing Technologies is the largest manufacturer of hearing aids in the world.

With over $70 million invested in the research and design of their latest hearing aids, they are the leaders in hearing innovation.

As the largest hearing aid dispenser in the state, Economy Hearing is also an authorized Audibel dealer.

Audibel is Starkey’s preferred network of top-tier providers.

A hearing aid provider does not simply decide to be an Audibel dealer; they have to be chosen.

“People come to Economy Hearing and are surprised that for the lowest price we are still the real deal,” he said.

Not only are patients getting quality aids when they purchase from Economy, but they are making it possible for others across the world to get quality hearing aids, as well.

A portion of the sales of every hearing aid sold at Economy Hearing is donated to the Starkey Hearing Foundation, which fits children and adults in-need across the world, many of whom live without access to hearing aids.

Bachman has also taken part in multiple mission trips to Africa and Honduras, fitting more than 11,000 people in Africa with hearing aids.

“We have one simple mission: making hearing affordable,” he said.

For more information about Economy Hearing, visit their website www. economyhearing.com.