- Nuheara among 24 of the world’s leading innovators, invited to present to US Members of Congress at CES on the Hill in Washington D.C.
- Other invitees include Google, Microsoft, Samsung, LG & Oculus
- Timing of the event very relevant to Nuheara’s broader hearing health aspirations and the proposed changes to legislation in the US with the Over-the-Counter Hearing Aid Act of 2017
Nuheara Limited (“Company” or “Nuheara“) (ASX: NUH) is pleased to announce that it has been invited to present at CES on the Hill, an invitation-only event to showcase top technology trends to US members of Congress, their staff and media. The event provides lawmakers with a chance to see new technology that has the potential to shape the future, especially in areas that may require changes to regulation. The event is timely and particularly relevant to Nuheara’s aspiration of providing a broad hearing health technology product platform, with proposed legislation changes enabling the sale of Over-The-Counter (OTC) Hearing Aids in the US, through the Over-the-Counter Hearing Aid Act of 2017.
Nuheara will be among 24 of the world’s leading innovators and technology companies who will present and display at the event this year In Washington DC on Wednesday, April 5, 2017, joining names such as Google, Microsoft, Samsung, LG and Oculus. Nuheara will be represented by Global VP of Sales, Bruce Borenstein.
Nuheara’s support of Over-the-Counter (OTC) Hearing Aid Act of 2017
The Over-the-Counter Hearing Aid Act of 2017 would allow hearing aids that are intended to be used by adults to compensate for mild-to-moderate hearing loss to be sold over the counter, and would eliminate the requirement that people get a medical evaluation or sign a waiver in order to acquire these hearing aids. It also asks the FDA to issue regulations containing safety and labeling requirements for this new category of OTC hearing aids and update its draft guidance on Personal Sound Amplification Products (PSAPs).
Approximately 30 million Americans experience age-related hearing loss, yet statistics indicate that only about 14% of those with hearing loss, use assistive hearing technology, often because they cannot afford costly hearing aids. The average cost for a hearing aid is $2,300 each, and most people require two. Furthermore, people with hearing loss generally pay out of pocket for hearing aids in the US, as no matter what your income level, hearing aids for adults are rarely covered by health insurance. In the US, hearing aids are:
- not covered by Medicare;
- not covered by most state Medicaid program;
- not covered by The Affordable Care Act;
- beginning to be covered by some private insurers, but it’s usually only a small fraction of the whole
Last week, Senator Elizabeth Warren took action and introduced the bipartisan bill (Over-the-Counter Hearing Aid Act of 2017) to get the Food and Drug Administration (FDA) to create a set of standards for these types of OTC hearing aids, so those with mild to moderate hearing loss have more affordable quality options in seeking hearing assistance.
Commenting on the OTC developments, Nuheara CEO, Justin Miller said “At the current time, there is an incredible amount of uncertainty over the future of U.S. health care. However, with bipartisan support, the Over-the-Counter Hearing Aid Act of 2017 stands a great chance of being passed, and more importantly, provides hope for a group of people who need more options, not fewer. With our product price points in the hundreds of dollars and not thousands, Nuheara has the technology, experience and desire to provide hearing assistance to these people at a far more affordable level.”
Contacts
Australia
Mr. Justin Miller
CEO and Managing Director
+61 8 6555 9999
[email protected]
USA
Mr. David Cannington
Executive Director
Vice President of Sales & Marketing
+1?415?497?4754
[email protected]
About Nuheara
Nuheara is an innovative audio Wearables company. It has developed proprietary hardware and software to deliver multi-functional intelligent hearing technology that augments a user’s hearing and facilitates cable free connection to smart devices. With Nuheara’s IQbuds™, consumers are able to augment their hearing according to their personal hearing preferences and connect hands free with their voice enabled smart devices. Nuheara’s mission is to improve people’s lives by allowing them to seamlessly listen, communicate and connect to their physical and digital world. Learn more about Nuheara: www.nuheara.com.
