At 4MyHearingBiz, courtesy of CareCredit, we get questions from hearing care professionals regarding how to run a successful practice. We hear everything from “How can I compete against the ‘Big Box’ retailers like Costco?” to “How can I offer lower-priced hearing aids and still make a profit for my practice?” and more. Experts provide the answers!
Ask an Expert
The goal of our “Ask an Expert” column is to get your questions answered by the people who are in the know—experienced, successful hearing practice owners, practitioners, and others who have first-hand knowledge about the business of hearing care.
Elissa Sorkowitz-Lejeune is a licensed hearing instrument specialist (HIS), and a partner in the highly successful, family-owned Royal Palm Hearing Aid Center in Florida. She has worked in the hearing care industry for more than 25 years, in all aspects of private practice, and also has hands-on experience in hearing instrument manufacturing. She has worked closely with all the major hearing instrument manufacturers and suppliers over the years, and continues to stay abreast of the latest available hearing aid technology.
There has been a lot of pessimism and negative press about the current state of the hearing care industry and the hearing aid market. Would you say that the future looks good or bad for private practice owners and, if so, why?
I have heard that same pessimism about our industry, and my response is always “What?!” This is the best time ever in our industry! We have finally hit the Baby Boomers. Since I entered this industry in manufacturing as a teenager in the early ’80s, all we have heard about is this time period we’re in right now. We have seen industry trends come, and we have seen them go.
Just like Oprah says, “What I know for sure is…” we are at a time in our industry when we are able to provide everything we have always dreamed of giving our patients. Sure, you may have to work harder and there are lots of disruptors entering the market, that’s clear. Every industry is experiencing the same thing.
It is time to understand that you can actually use some of these disruptive technologies to add to your fittings, and your patients’ quality of life. Yes, we will work harder, because in the current climate we have to be a “genius” of our industry. In other words, we have to be the best at what we do. To step up to this challenge, we need to make it our business to educate ourselves, and attend as many classes as possible on fittings from our manufacturers. Even if you don’t necessarily sell a product, you had better know about it. To be successful and keep your future looking bright, you had better be able to give patients an answer about anything they throw at you. And to help ensure a rosy future, you had better be able to provide customer service like Disney does!
Remember, we are now in the time period of the Boomers, so things are looking good if we do all we can to make the best of it.
Have a question? Please feel free to post a comment in our “Leave a Reply” section at the bottom of this article. We encourage readers to pose one or more questions for one of the experts to answer in the near future.
The “Ask an Expert” column is provided to the 4MyHearingBiz community by CareCredit, The Hearing Review, and various contributors from the hearing healthcare industry who share their opinions and perspectives with our community.