In May 2011, a major chain of hearing aid dispensers declared bankruptcy after reporting operating losses of nearly $8 million last year. The figures provided in their bankruptcy filings show that they had a 6.4% decline in sales from 2009 to 2010. (Coincidentally, JC Audiology experienced a 6.3% INCREASE in sales during the same period).
The large chain was in turmoil before the bankruptcy filing. Its largest supplier of hearing aids, a manufacturer that also owned part of the retail chain, filed law suits claiming tens of millions of dollars were owed to it. The stock of the publicly traded retail hearing aid chain plummeted nearly 250% in one year’s time.
Operating any business in the midst of an economic recession is tough business, and it is only exacerbated when legal disputes roil the entire company’s operations. Large corporations often have unwieldy management structures, high employee turnover and complicated finance arrangements that can prove slow to respond to changing economic conditions, not to mention slow in responding personally to individual patients. Not so at JC Audiology.
Since JC Audiology opened its doors in 2005, personal patient care has been our priority. Patients see the same audiologist, Dr. Judith Reese, with every visit. It is a special point of pride that so many new patients come to us from existing patients who recommend their family and friends to JC Audiology.
In 2010, JC Audiology saw its 1,000th patient. Despite recent years of economic downturn, we have managed to grow our patient list and remain financially healthy every year we have been in business. We have no debt, and our ability to operate efficiently has allowed us to sell hearing aids at nearly 14% below what the national average is reported to be. We even invested in upgraded technological equipment last year to better serve each patient. Our business decisions are made not among a chain of corporate vice presidents, but between Dr. Reese and her husband, Charlie, (Listener in Chief), who has a Masters in Business Administration and years of experience in business as well as volunteer service experience on boards of directors for a number of local organizations. He’s served as president of the Central Pasco Chamber of Commerce and the local Habitat for Humanity affiliate, and Judith was recently recognized as Volunteer of the Month in The Laker for all her work with local charities. Our commitment to each patient and to our community is solid, and has held steady during economic and industry turmoil.
Thanks to our patients, and our dedicated employees, JC Audiology remains a center of stability in a tumultuous industry, providing exceptional patient service and competent business management in pursuit of our goal of being the leader in hearing health care.
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