In an exciting development for the hearing care industry, Sivantos USA, an audiology technology leader, is set to enter a strategic partnership with TruHearing, a prominent hearing healthcare benefits solution provider. The partnership aims to combine Sivantos’ advanced hearing aid solutions with TruHearing’s leading hearing healthcare services, ultimately improving access to high-value hearing benefit solutions for health plans and their members.
The Need for Improved Hearing Care Solutions
Hearing loss has become a prevalent concern, affecting younger people more than ever. As a result, many healthcare companies are looking to offer hearing aid coverage to their members. This growing demand creates a unique opportunity for third-party administrators to provide valuable hearing care solutions.
The Partnership’s Objectives
The strategic partnership between Sivantos and TruHearing aims to address the needs of millions of Americans with hearing loss. By integrating Sivantos’ premium brand Signia hearing aids into healthcare coverage, the partnership will enable better access to cutting-edge hearing solutions for those in need.
Empowering Hearing Care Professionals
As the hearing care landscape continues to evolve, hearing care professionals (HCPs) are facing challenges in growing their practices. This partnership offers a significant advantage to HCPs by providing them with a steady stream of qualified patient referrals. TruHearing will become the fourth major source of patient referrals for Signia hearing aids, adding to its existing partnerships with HearUSA, hear.com, and its HCP locator tool on its website.
A Boost for TruHearing
For TruHearing, the partnership is seen as a perfect opportunity to leverage Sivantos’ proven innovation capabilities within its entrepreneurial environment. The collaboration aims to accelerate TruHearing’s ability to develop and deliver the best hearing healthcare solutions for health plan partners and their members.
Key Figures and Perspectives
Tommy Macdonald, CEO of TruHearing
Tommy Macdonald expressed excitement about the partnership, highlighting the chance to tap into Sivantos’ innovation capabilities. He emphasized the joint commitment to providing top-notch hearing healthcare solutions for their health plan partners and members.
Steve Mahon, CEO of Sivantos USA
Steve Mahon acknowledged the growth of third-party providers in the hearing industry and recognized the opportunity to join forces with TruHearing. He emphasized that the partnership would better equip Sivantos to meet the needs of HCP customers and serve more patients, positioning them at the forefront of a rapidly changing and ever-growing market.
Business Integration and Structure
TruHearing, with approximately 170 employees based in Salt Lake City, Utah, will continue to operate independently within Sivantos. Tommy Macdonald will join the Sivantos management team and continue to lead the TruHearing business from its Salt Lake City headquarters.
Conclusion
The strategic partnership between Sivantos and TruHearing marks a significant step forward in addressing the hearing care needs of millions of Americans. By combining their strengths, they aim to enhance the accessibility and quality of hearing aid solutions for health plans, their members, and hearing care professionals. The collaboration reflects a shared commitment to innovation and delivering the best possible care for those with hearing loss.
FAQs
What is the purpose of the partnership between Sivantos and TruHearing?
The partnership aims to combine Sivantos’ advanced hearing aid solutions with TruHearing’s leading hearing healthcare services to improve access to high-value hearing benefit solutions for health plans and their members.
How will hearing care professionals benefit from the partnership?
Hearing care professionals will receive a steady stream of qualified patient referrals through TruHearing, helping them grow their practices in a competitive marketplace.
What does the partnership mean for Sivantos’ brand Signia?
The partnership will position Signia as the leading patient referrer for its audiology customers, offering an expanded suite of referral options.
How will the partnership impact TruHearing’s operations?
TruHearing will continue to operate independently within Sivantos, with its management team intact.
What are the long-term goals of the partnership?
The partnership aims to drive innovation in hearing healthcare solutions and meet the growing demand for hearing aid coverage among healthcare companies.
