Now new technology and a rare bipartisan push from lawmakers who are trying to reduce regulations for the sale of hearing aids are raising hopes that more people with mild to moderate hearing loss will be able to buy hearing devices a lot more cheaply and without seeing a doctor.
It's a modest-sounding goal, but supporters believe the measure on Capitol Hill could lower prices, spur innovation, and ultimately get hearing aids into the ears of far more people. Only 15 to 30 percent of people who need hearing aids actually get them, according to some estimates.
Currently, regulations in most states, including Massachusetts, require consumers to go to a licensed audiologist or other specialist to purchase a hearing aid. The average cost: $2,300 per ear.
Legislation sponsored by Democratic Massachusetts Senator Elizabeth Warren and Republican Senator Chuck Grassley of Iowa would supersede individual state rules and force over-the-counter hearing aids into the national market. It has the support of AARP, which is the largest lobbying group for seniors and advocates for people with hearing loss. But it is drawing opposition from hearing aid makers and a major trade association for audiologists.
Supporters say the bill could unleash competition and put hearing aids that cost a few hundred dollars on the shelves. It could also foster technology that, among other benefits, allows consumers to use smartphones to control their hearing aids.
(Score: 4, Insightful) by Grishnakh on Thursday April 13 2017, @06:55PM (1 child)
Regulation is necessary to protect consumers from harm and exploitation (for instance, food laced with melamine or other poisons or drugs that harm instead of help), and to keep markets competitive (for instance, to prevent monopolies and reduce the power of large companies or oligopolies).
The problem is when this is subverted and ends up having the opposite effect from that desired, such as propping up existing oligopolies and preventing new competition.
In well-run countries, regulation usually works pretty well, but of course nothing's perfect. In really screwed-up countries, regulation doesn't help protect consumers and only helps enrich incumbent players. Use this simple classification and readily-available evidence to determine which kind of country you live in.
(Score: 2) by Azuma Hazuki on Friday April 14 2017, @01:24AM
Yeah, you're describing "regulatory capture," which is an oddly euphemistic term for a process that basically does to the regulatory apparatus what Cordyceps spp. do to ant brains.
I am "that girl" your mother warned you about...