Audicus

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This article was considered for deletion at Wikipedia on October 4 2016. This is a backup of Wikipedia:Audicus. All of its AfDs can be found at Wikipedia:Special:PrefixIndex/Wikipedia:Articles_for_deletion/Audicus, the first at Wikipedia:Wikipedia:Articles_for_deletion/Audicus. Purge

Audicus is an online hearing aid company based in Manhattan, NY. They are an e-commerce startup offering lower-priced, high-quality hearing aids by eliminating intermediaries.

History

Audicus was launched by Founder/ CEO Patrick Freuler when he spotted a need in the hearing aid market for a cheap, but still reliable and high-tech, alternative. Typical hearing aids on the market go for $1,600, $2,000 per ear.[1] Hearing aids are not usually covered by insurance.[2]

Business model

Audicus bases its business model off of the idea of unbundling. It segments and eliminates costs typically factored into the price of a hearing aid sold through an audiology clinic.[3] Instead of retailing the product in a store, Audicus sells its products over the internet. It aims to cut out three major costs: 1) manufacturing, 2) custom molding, and 3) returns.[3] According to Freuler, manufacturing is fairly inexpensive, and hearing aids direct from the manufacturer only cost a couple of hundred dollars.[4] Custom molds can be accounted for with adjustable, replaceable silicone parts. Finally, Audicus returns rates are three-fold lower than the industry average as people are more willing to part with (and return) $5,000 hearing aids (versus $1,200).[3]

Customers send in hearing tests to Audicus; Audicus uses these results to program the hearing aids, like one would use a prescription for eyeglasses. The hearing aids are shipped to the customer and can subsequently be serviced in the Audicus office for the lifetime of the device[4]

Companies with comparable business models include Warby Parker, 1-800 Contacts, and Harry's.[2]

References

Further reading