Listen, listen to the Biden Food and Drug Administration, which on Tuesday finalized a rule that the commissioner Robert Calif says will open up the hearing aid market to competition and “unleash the power of American industry”. This is the right way to reduce prices.
The FDA rule will allow Americans to buy hearing aids over the counter rather than prescription. This will expand the market for hearing aids and could save seniors thousands of dollars. The four largest manufacturers control 84% of a relatively small market. In 2019, the average retail price for a hearing aid was $2,284, about three times the wholesale price.
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