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TruHearing
Digital hearing instruments to members and their families through contracted health plans and enrolled employer groups
About TruHearing
TruHearing operates as a managed care administrator for hearing healthcare benefits, positioned as a key intermediary between health insurance plans, hearing aid manufacturers, and consumers. Founded by Lindsay Atwood in 2003, the company was established to address the high cost of hearing aids, a benefit not traditionally covered by health plans. Initially, TruHearing partnered with insurance companies to introduce hearing healthcare as a covered benefit, significantly reducing out-of-pocket costs for members.
The company's business model is centered on volume purchasing. By buying hearing aids in bulk from major manufacturers, TruHearing negotiates substantial discounts and resells them to consumers through its extensive network of providers. Its primary clients are over 110 health plans, unions, and employer groups, which in turn provide access to more than 160 million members. Revenue is generated through these partnerships and the direct sale of hearing aids to the members of these plans. In April 2018, the firm was acquired by WS Audiology, a global leader in the hearing aid industry, a move that enhanced its buying power and vertical integration.
TruHearing offers a comprehensive service that begins when a health plan member contacts one of its Hearing Consultants. These consultants verify benefits and schedule an appointment with a local, credentialed provider from TruHearing's network of over 8,850 locations. The service package typically includes a hearing exam, the hearing aids, professional fitting, and a year of follow-up visits. The product lineup features over 200 models from top manufacturers like Signia, Phonak, and Starkey, as well as its own private-label devices, which are manufactured by its parent company, WS Audiology. Products are categorized into tiers—from Basic to Premium—to match different hearing loss levels, lifestyles, and technology needs, including features like rechargeability, Bluetooth connectivity, and advanced noise reduction.
Source: Dealroom company dataAt a glance
- Founded
- 2003
- Headquarters
- West Jordan, United States
- Sector
- Health Tech & Medtech
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later1 investor entered at this stage
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