Idealab NY and Elements Health Ventures announced that their firm, Tuned, raised USD 2.5 million in seed funding to ensure access to hearing care for everyone. The new funding will increase employer adoption and offer full hearing wellness to the workforce as a speciality healthcare benefit after successful pilots with businesses like RetailBound and Mishe.
Employees may access vetted audiologists and hundreds of hearing health items via the Tuned platform, which offers the first and only comprehensive hearing health benefit. Along with conventional hearing aid and hearing protection alternatives, Tuned is the only benefit that provides over-the-counter (OTC) hearing aids and tinnitus management apps. Employers are given the ability by Tuned to provide a novel benefit tied to lifelong hearing care, replete with open price structures and enrollment assistance.
Today, 15% of school-age children and 25% of working-age adults have hearing problems, ranging from hearing loss to tinnitus, balance problems, auditory processing disorders (APD), and other symptoms.
Employers pay USD 2,200 per person year on undiagnosed hearing problems, a 46% increase in healthcare costs compared to those for those who do not have hearing loss. According to a recent Tuned study of more than 350 working-age individuals, the pandemic has increased the prevalence of hearing problems. According to research, one-third of adults spend up to eight hours a day wearing headphones, which can cause hearing fatigue and problems with auditory processing. Additionally, 50% of respondents said they become tired of hearing, affecting their productivity.
CEO and co-founder of Tuned Danny Aronson:
“When it comes to a person’s capacity to work, interact socially, and form connections with others, hearing is just as important as any other sense. Despite this, millions of people with hearing problems who aren’t ready for hearing aids don’t have access to any care choices through their benefits package. Most Americans receive their healthcare through employer-sponsored coverage, therefore Tuned is not only offering a patient-centric solution to this care gap, but we are also doing so.”
According to Kate McGinley, chief growth officer and co-founder of Tuned:
“The stigma surrounding hearing care is partly caused by the existing industry landscape and partly by the fact that we don’t discuss hearing in the same way we do for topics like eye care and mental health.” “Tuned is committed to removing obstacles in healthcare and assisting in making hearing wellness a priority for people in need.”
Tuned is a hearing care business that prioritizes technology. As an employee perk, Tuned is the only company that provides patients of all ages with a lifetime hearing benefit. By offering extensive product options for hearing health, the organization promotes care while relieving employers of the burden of comparing countless practice groups, headsets, and software configurations. Today, marketplaces and employment coverage are how 5.1 million consumers obtain Tuned. With audiologists located worldwide and in the United States, Tuned is a private firm with its headquarters in New York City.
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