Published on 15/07/2024

Boost hearing aid sales through payment in instalments

Nearly 1.5 billion¹ people suffer from hearing impairment, according to the World Health Organization. This number is expected to double by 2050, reaching 2.5 billion² people worldwide. With this growing public health concern, access to hearing aids has become crucial for improving the quality of life for those affected. Despite the availability of advanced technical solutions, financial barriers still prevent many patients from getting the equipment they need. To tackle these challenges, FLOA³, a leader in instalment payment solutions, has developed a special offer for the hearing care sector.

Discover how this solution transforms the customer experience by making the latest hearing technology more accessible.

Boost hearing aid sales through payment in instalments

The challenge of financing hearing aids

According to a recent study based on hearing tests, 25%⁴ of adults in France suffer from some form of hearing impairment, with 4%⁴ experiencing debilitating hearing loss that requires a hearing aid. Unfortunately, purchasing a hearing aid represents a significant investment. The average cost of a new hearing aid typically amounts to €1500⁸.

For hearing care professionals, the challenge is to offer flexible payment options without complicating the sales process. Traditional methods, like in-house payment plans (such as payment in instalments by check), add administrative and financial burdens to everyday operations. Financing options are generally limited to Class 2 products. State coverage (health insurance) for Class 1 hearing aids only partially address the needs of patients with severe hearing impairments.

With market trends and the increasing difficulty in obtaining hearing aids, there has been a dramatic rise in the number of new applicants for hearing devices. For both patients and hearing centres, finding the best financing alternative has become essential. A flexible solution that provides broader access to quality equipment while ensuring an optimal customer experience is crucial.

FLOA| The solution to support hearing aid purchases

FLOA³ provides an innovative and tailored instalment payment solution. This groundbreaking offer allows hearing care professionals to provide their clients with easy access to equipment without impeding on their shopping experience.

Beyond its split payment solution⁷, FLOA³ is committed to providing quality support to its partner hearing aid practitioners. Teams receive comprehensive training for optimal use of the available tools. A dedicated customer service team is also available by phone six days a week (including Saturdays) to answer any day-to-day questions.

For patients, the benefits are numerous. They can now spread the payment for their hearing aids over periods of 3 or 4 months⁷ according to their preferences.

FLOA's commitment to an impeccable partner experience is well-recognised. Recently, FLOA was awarded "Customer Service of the Year" in the Payment Solutions⁵ category, and also named "Brand of the Year” for 2022⁶, an accolade that honours its innovative capabilities in serving merchants and consumers.

FLOA | Bringing flexible split payment solutions to the hearing care sector

Since its arrival in the hearing care sector, FLOA has managed to win over several hearing centres and networks. Esteemed brands like Audition Conseil, Sonance Audition, and Audio Pour Tous have already adopted this instalment payment solution. This strategic move allows them to offer a smoother customer experience for purchasing expensive hearing aids.

FLOA’s major strength, however, is its seamless integration with leading industry software like AudioWizard, Optimum, and Osmose. Thanks to these integrations, hearing professionals enjoy a fully digital and streamlined sales process. From financing simulation to payment completion, everything is done in just a few clicks within their FLOA merchant portal.

With over 200 centres already on board, FLOA is becoming the go-to solution for driving digital transformation in the hearing aid industry and significantly enhancing the customer experience.

Ready to boost your hearing aid sales? Contact us today for a free FLOA demonstration!

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Would you like to try the FLOA offering? Contact our teams for a live demo of our service!

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