- Published on 20 December 2018
Two announcements in one week by InnerScope Hearing Technologies (INND) highlight the firm's varied strategies within a fast-changing US hearing-aids market.
First, on November 28, InnerScope heralded its eyecatching launch of two eCommerce hearing aid sales websites exclusively for customers to make use of tax-advantaged financial accounts (Flexible Spending FSAs or Health Saving HSAs). Millions of people own these under their health plans in the US. The INND move effectively provides these people with a hassle-free way to spend pre-tax dollars on hearing aids for themselves—or for ageing parents if registered as dependents—a possibility many may not even be aware of.
"InnerScope is breaking all traditional industry barriers by bringing to the market Direct-to-Consumer affordable hearing aids with the latest in hearing technology to the 40+ million Americans that have been denied hearing help due to high cost and accessibility," said the firms CEO, Matthew Moore.
Then, on December 4, INND announced the latest step in its 6 to 12 month Northern California Audiological Clinic Expansion Plan, namely the launch by the end of December of a new retail clinic in Sacramento, California, the "Sac Clinic", which it expects to trawl annual revenues of over $1.2m in gross sales and approximately $200 to $300k in net profit. This makes InnerScope's fifth "hearing aid retail clinic" in Northern California, out of a total of 22 under the rollout plan.
In its mission to "serve approximately 1.2 billion people around the globe", INND also has a key online deal in place through Walmart.com, which sells a collection of Innerscope hearing aids beginning at $449. The firm's online operation, says Moore, "provides a modern day innovative approach for consumers to access and purchase high quality hearing aids online shipped directly to their home without seeking a hearing care professional."