Business Model

Culture

From the beginning, we’ve focused on doing what’s best for the patient in every situation…

This “patient-first” business model is evident in everything we do, from the interior design of the clinic to the extended appointment times to the clinic’s hearing aid pricing structure. Patients can tell that our providers are not just trying to sell them a hearing aid; they are trying to help them have a better life.

A good organizational culture is hard to create and even harder to maintain. Our culture comes from our people. We work hard to find employees (for all positions) that are empathetic, kind and patient. This leads to increased patient satisfaction. When the inevitable grumpy patient interacts with our staff, they usually can’t help but warm up to the smiles and comforting words that they receive. This, along with our conversational counseling style and ability to let patients access the benefits that they’re entitled to (sometimes even if we are out of network) creates a level of trust that keeps them coming back and ensures that their family and friends hear about us.

Pricing Structure

Though hearing aids aren’t the only thing we do; it is the thing we get the most questions about…

Coates Hearing has a pricing structure that has been carefully crafted to allow patients to take advantage of the benefits they get from their insurance without the practice of having to settle for a small fitting fee from a 3rd party provider. Our standard pricing is competitive with hearing aid chain dealers and our price-match program allows most patients to get the discount that their 3rd party benefit provides with the option to add one of our service plan options.

Though our corporate locations are not in-network with most 3rd party providers, these can be considered on a case-by-case basis for franchise practices. It’s important that our patients understand the hard work and expertise that goes into hearing aid fitting and follow-ups. We extensively counsel our patients to educate them on exactly what the audiologist is doing so that they see the value in the services not that are provided instead of the device itself.

Cost of Goods

Our unique pricing structure is possible due to our volume and relationships with manufacturers…

Years of negotiations and bulk-buys have resulted in very aggressive pricing from the hearing aid manufacturers. This gives our franchise clinics a cost-of-goods amount that is not achieveable for a new practice. This kind of pricing is not available to new practices (or small established practices) due to their low volume. As a franchisee, you’ll have access with this pricing on day 1.

Coates Hearing Clinic does not have any kind of finanical commitment to any manufacturer, does not owe any manufacturer money and does not tell its franchisees which products would work best for each patient. Franchisees will know what each device costs. There will be opportunities for periodic bulk purchases that further lower the cost of goods. Though we have VERY aggressive pricing from a couple of manufacturers, we do not restrict franchisees from choosing a manufacturer with a higher cost of goods (if it’s best for the patient).

Insurance & Billing

Insurance and billing represent one of the most frustrating, confusing parts of owning a private practice…

We contract with several billers and insurance consultants. They will help you get contracted/credentialed, bill your services, post payments and dispute incorrect payments (and denials) when they are inevitably made. Once set up, they work behind the scenes to get you paid so that you can focus on taking care of patients. With these contractors, there is very little for the provider to do (in terms of billing) besides telling the billers what codes to bill!

Other Service Opportunities

Our corporate locations offer cochlear implant services and balance testing, which is another revenue stream for practices to explore as they grow…

While we don’t require these services to be offered at franchise locations, we believe that having a full suite of audiological services can be beneficial to the patient and practice.

Vestibular testing and cochlear implant services are two areas of potential expansion that franchisees can consider as they grow.

Business Model

Culture

Pricing Structure

Cost of Goods

Insurance & Billing

Other Service Opportunities

Our Links

Franchise

Contact Us