Most Consumers Say Their Hearing is a
Priority, But Less Than 10% Visited an Audiologist in the Past
Year, Citing Cost as One of the Top Barriers
STAMFORD, Conn., May 14,
2024 /PRNewswire/ -- Hearing is a priority health
concern for the majority of consumers, yet few take action to
proactively manage their hearing health, according to a new study
from Synchrony, a premier consumer financial services company,
conducted on behalf of the company's leading healthcare financial
solution, CareCredit. Synchrony's "Hearing Health & Loss
Prevention" study surveyed more than 2,000 consumers between
the ages of 18 and 55, as well as 26 audiologists about their
perceptions and behaviors regarding hearing loss, associated care
and devices.
"Half of the surveyed audiologists reported they are diagnosing
more young people with hearing impairments, and many suggested
those young patients are in denial of the severity of their current
or potential hearing loss," said Beto
Casellas, EVP and CEO, Health & Wellness, Synchrony.
"This suggests hearing loss is becoming a more prevalent issue for
young people, and they need to be made more aware of their options
for recognizing, diagnosing and treating conditions related to
their hearing."
According to the survey, 70% of consumers consider their hearing
a priority, yet less than 10% have visited an audiologist in the
past year. Even more surprising, 85% said there was no need to
discuss their hearing with a healthcare provider, even though more
than 1 in 5 admitted to exhibiting potential symptoms of hearing
loss, including ringing in the ears (23%), asking people to repeat
themselves (22%) or listening to music or television louder than
other people found necessary (19%).
The Impact of Delayed Hearing Care
Audiologists
continue to experience challenges in raising awareness of the
importance of hearing care, especially among young adults who may
not be fully aware of the long-term consequences of delaying
care.
The study revealed very few consumers were aware of the
connection between hearing loss and other health conditions,
specifically dementia in older adults, with 71% not knowing there
was a link. Upon learning of this, 49% of participants in the study
noted learning this information has influenced their decision to
get their hearing checked, with 9 out of 10 not being aware of
online hearing tests being a diagnostic option.
"An important part of our partnership with Synchrony and the
CareCredit product is to increase visibility and access to the best
possible audiological care and practices," said Stephanie Czuhajewski, Executive Director, MPH,
at the Academy of Doctors of Audiology (ADA). "Through our
commitment to providing access to information, education and
fostering relationships rooted in the best clinical and business
practices, together, we remain focused on supporting audiologists
and helping them meet their patients wherever they are on their
hearing journey."
In addition to limited awareness, stigma associated with hearing
devices was a significant concern for consumers, including worries
about visibility of devices and being perceived as old for wearing
them. Despite this, 87% of those surveyed who have hearing devices
noted they like their device, with the majority of them feeling it
has enhanced their quality of life. In fact, 86% of people who had
hearing devices said they wished they had gotten those devices
sooner. Overall, these results indicate that addressing hearing
loss with hearing devices provides noticeable improvements,
including greater participation in conversations and hobbies.
Three-quarters of consumers who participated in the study noted
they are willing to change behaviors to preserve their hearing by
taking steps such as limiting their exposure to loud noises (75%),
lowering the volume of their cell phone, television or
entertainment systems (72%) and wearing earplugs or other hearing
protection in noisy situations (70%). However, when it came to
talking to a healthcare provider about their hearing health, only
around half of consumers indicated the primary motivating factors
for getting their hearing checked would be if they developed
noticeable symptoms (56%), or if the hearing assessment were free
(43%).
"These survey results illustrate an urgent need to increase
awareness of the importance of hearing health, both preventative
and reactive, and the financial options available to manage the
costs associated with hearing care," said Becky Lansen, SVP & General Manager, Health
& Wellness, Synchrony. "By working with consumers to identify
and overcome these barriers, we can help them better address
hearing loss and regain their sense of participation and inclusion
in everyday social activities."
Financial Support Options
Payment options exist to
help manage the costs of healthcare associated with hearing and
other areas of health, including financial assistance (when
applicable), health insurance, third-party financing and in-house
payment plans.
The CareCredit credit card is accepted in more than 11,000
audiology and hearing practices across the country and is a
convenient and reliable solution that offers financing options for
qualified consumers. By fulfilling the evolving needs and
expectations of patients, CareCredit is a tool that empowers people
to pay for the health and wellness care they want or need in a way
that fits their lifestyle.
Synchrony is providing the resources and tools to help educate
patients on costs and the financial solutions they can use to plan
and pay for care. To read Synchrony's "Hearing Health & Loss
Prevention" study research or to find content about solutions
to pay for out-of-pocket hearing care costs, and opportunities to
ask questions of care experts, please visit
www.carecredit.com/well-u/. To learn more about CareCredit, please
visit: www.carecredit.com.
Methodology
The Synchrony "Hearing Health & Loss Prevention" study
was performed by Savanta and GCI Health on behalf of Synchrony.
Researchers surveyed 2,001 respondents in the U.S (aged 18-55).
Researchers also conducted interviews of 26 audiologists with an
average of 19.6 years in practice. The survey and interviews were
conducted in February 2024.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services
company delivering one of the industry's most complete digitally
enabled product suites. Our experience, expertise and scale
encompass a broad spectrum of industries including digital, health
and wellness, retail, telecommunications, home, auto, outdoor, pet
and more. We have an established and diverse group of national and
regional retailers, local merchants, manufacturers, buying groups,
industry associations and healthcare service providers, which we
refer to as our "partners." We connect our partners and consumers
through our dynamic financial ecosystem and provide them with a
diverse set of financing solutions and innovative digital
capabilities to address their specific needs and deliver seamless,
omnichannel experiences. We offer the right financing products to
the right customers in their channel of choice. For more
information, visit www.synchrony.com.
Media Contact:
Michelle Blaya
Romero
Michelle.Romero@syf.com
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SOURCE Synchrony