Dr. D. Servedio: Patients do not care about the technology, they care about the benefit

The patient do not care about Tech X or Y. They care that the device is going to enable them to hear in an environment that they couldn't hear before, that they can connect to people. 

Manufacturer communication

Manufacturers get their communication wrong, they communicate on technology when what the patient cares about is being able to communicate. 

On advertising

Dr. Servedio believes that patient 'leads' should come from a medical model. A real need, not an open-house sales pitch. 

The open-house invites don't work in NY. Nobody looks at them. Mail-outs of 15k flyers bring in 6 leads at the most… and the 'leads' are not even looking for hearing aids. They are looking for more information. Nobody would get their medical advise without establishing the credibility of the centre/practitioner.

Newspaper advertising on the other hand does work in getting good response rates. The problem is the conversion numbers are low because you are getting a lot of shoppers, not buyers. They don't convert because:

1. They are shopping around
2. They are not there for themselves, but to please a significant other

Manufacturers are spending loads of money on crap no one is reading. 

The challenge: Hearing aids associations (Psychology of the hearing aid)

There are tons of books equating hearing aids with the end of life. With getting older, frail and feeble. The challenge is overcoming the huge stigma barrier.

Another challenge is that the general population does not know what an Audiologist does. It is associated with hi-fi stereos…

Hearing aid dispensers

By the letter of the law are not able to diagnose your hearing, but they do anyway. Dr. Domenico believes that the hearing aid dispensers are in direct competition with his practice because from a consumer perspective there is little or no difference. Education is a challenge.

The dispensers are feeling the pain of Costco. 

How did he get into the industry?

Chance. Studied a Fine Arts major and tripped onto the profession. He was late in the registration and was advised to take a speech pathology/audiology elective. Also, at the same time was pondering career opportunities upon graduation because the outlook seemed bleak. 

He remembers that the first thing the professor said was 'I guaranteed that anyone in this class who decides to take the studies/career of an Audiologist to the end will never be out of work'. He was hooked. 

Audiology is a growth profession and always has. 

Growth reasons

Population is underserved, few providers and the population skew (baby boomers). 

Medical vs. business tension

Dr. Servedio has been in the business for 25 years. He has taught at School and University, been a manufacturer trainer (Widex), worked in a hospital and started his own practice in 1995. Dr. Servedio has worked in many places before setting his practice so that he could learn on someone else's dime. One of the biggest disadvantages of his learning was that they provided no business education (in fact he was chastised by a professor – who stated that we are professionals not business people). 

Recommendation for manufacturers

Educate the public. Educate them on hearing loss, not products.

Manufacturers should never go into B2C

Siemens did and destroyed their market base.

Dr Serviedo goes through 500 pens a month!

Jelly beans are available on the way out of the consultation. They give the patient a sweet association with the practice on the way out of the appointment.

Other observations

Bookings are done over the phone and through their website. 

Patient are working so prefer to be emailed their appointment as a call is less convenient.

Lots of musicians are customers.

Manufacturer brochures are hidden to the side of the reception. The cannot be seen and are too cumbersome to access. If a patient wants to read something, they can access the magazines in the magazine stand (below).