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Is Your Hearing Loss Costing You Money?

Is Your Hearing Loss Costing You Money?

Hearing loss is the third most common chronic physical condition in the United States. Although it is twice as prevalent as diabetes and cancer, only 20% of those with hearing loss actually seek treatment. Untreated hearing loss has serious consequences, negatively affecting overall physical, social and mental wellbeing. More recently, studies are discovering that untreated hearing loss is affecting individuals financially.

Loss of Income

Hearing is essential for communication, which is critical in the workforce. When a person’s communication is hindered due to hearing loss, job performance, productivity and earnings are harmfully affected. Those diagnosed with hearing loss, but do not seek treatment, are twice as likely to be unemployed than those that wear hearing aids. In addition, they are more likely to make mistakes, limit their potential for promotion and retire prematurely.

The Better Hearing Institute conducted a survey, revealing that untreated hearing loss can result in an average loss of $12,000 in household income per year. The cost annually in the U.S. is estimated to be over $100 billion.

Additional Costs

In addition to loss of income or potential, untreated hearing loss can provide additional medical costs, far higher than the cost of actual treatment. Those with hearing loss are more likely to have dementia or fall, resulting in additional medical bills. Additionally, hospital stays are doubled and readmission is 44% higher, compared to those without hearing loss.

What Can I Do?

  • Schedule a Hearing Evaluation. Determine if you have a hearing loss or establish a baseline for your hearing.
  • Consider Hearing Aids. If a hearing loss is detected, hearing aids might be the best solution. The costs of not treating hearing loss far outweigh the cost of hearing aids.
  • Protect Your Hearing. If you do not have a hearing loss, take the steps to prevent noise-induced hearing loss. Wear ear protection, be wary of volume levels, and avoid noisy enviroments.

Lakeland Hearing Care

Lakeland Hearing Care, part of Central Florida Speech & Hearing Center, is committed to providing hearing solutions that fit the needs, lifestyles and budgets of our patients. There are a number of options available including devices that are waterproof, discreet, comfortable and technologically advanced. Voted Best Hearing aid Center of Central Florida five years in a row, we are confident that we can help you get the hearing help you need!

To schedule an appointment for a hearing evaluation, call 863-279-4812 and see firsthand how our Audiologists can help you!

Sources:

* Impact of Hearing Loss on Household Income, May 2007, Better Hearing Institute.

** Hearing Loss Statistics, November 2019, Healthy Hearing.

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