Posted on 06/17/2011 12:26:24 PM PDT by Red Badger
A few years ago, Russ Apfel was looking for something to do.
The semiconductor industry veteran had sold his chip design startup to Silicon Laboratories Inc. in 2005, then he worked for the company before retiring in 2008.
Eventually, he started looking at the hearing aid industry. It made sense, because the devices' digital signal processor chips are firmly in Apfel's area of expertise.
Apfel was surprised to learn that hearing aids can cost several thousand dollars.
"I was appalled," Apfel said. "I couldn't believe how expensive they were."
Part of the reason, he said, is that audiologist visits and other services are bundled in with the price. Users must regularly return to a vendor or audiologist to have their hearing aids adjusted and calibrated.
Eager to get into a new business, Apfel jumped in. After about 20 months of work, his company, Audiotoniq, is unveiling its first hearing aid today at the Hearing Loss Association of America convention in Washington, D.C.
Apfel says his hearing aid will be just as powerful as those currently on the market but that users will be able to adjust the settings using smartphone applications.
Audiotoniq will sell the devices online for $1,500 to $1,800.
Other companies sell hearing aids online. But critics say that online distributors can't provide the necessary evaluation, fitting and training that users need to correctly use their hearing aids.
To compensate for the absence of audiologist visits, Audiotoniq will provide software that trains people how to listen better, as well as online chats and the option to get help by phone.
Craig Champlin , chairman of the University of Texas department of communication sciences and disorders, said that Audiotoniq's device has features that will result in an improved hearing aid.
"But it nonetheless will only go so far," Champlin said.
While a device might give someone more sensitive hearing, users still need coaching and training on new listening techniques, he said. For instance, a person with hearing loss will need help learning how to focus attention on a particular speaker.
"The hearing aid isn't yet smart enough to do that," said Champlin, who is an audiologist. "Audiotoniq is trying to smarten it up, but it's not there yet."
Champlin, who has advised Apfel's company, said that such techniques could possibly be taught online, rather than in person.
Apfel admits the product, which goes on sale in September, won't be for everyone.
"This is not for 90-year-old Aunt Em who doesn't know how to operate her TV remote," he said. "This is for people who are serious, who understand technology, who embrace technology and want to have control of their life."
Apfel and a local investor he declined to name are major backers of the company, which so far has raised about $2.5 million. Company officials will seek more funding this summer.
Harold Mindlin, Audiotoniq's vice president of sales and marketing, is a serial entrepreneur who said he was lured to the company by Apfel.
"Russ is the pied piper," he said. "Everybody bought into his vision."
Apfel said the hearing aid, which will be manufactured in Dallas, could tap into an underserved market.
About 17 percent, or 36 million, of American adults report some hearing loss, according to the National Institute on Deafness and Other Communication Disorders. Only 1 of every 5 people who could benefit from a hearing aid wears one, according to the group's website.
Apfel expects that Audiotoniq, which employs just under a dozen people in Austin, will grow to about 30 by year-end. Next year, he expects to hire 30 more.
Done!............You can hear me now!............
Done!...........You can hear me now!..............
Will they be made in America?
If not, who cares?
Full disclosure however, I am not a big believer in aliopathic/conventional medicine
I tried acupuncture, and Chinese herbal meds with no luck. I have a very good herb doc. Will try the chromium.
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