Launched in 2016, Neuralink is the brain-child of Elon Musk. This technology focuses on bridging the gap between technology and biology, by building human-machine interfaces through the deployment of electrodes and microchip implants in the brain.
While this sounds like science fiction, the company has made immense strides in research over the past eight years, with potential applications covering everything from treating hearing loss in the form of tinnitus to controlling your devices with the power of thought alone.
How does Neuralink work?
A microchip is inserted behind the ear and micron-scale threads are spread into the brain using precision automated neurosurgery to guide them to where they need to be, including the visual, auditory, somatosensory and the motor cortices.
Signals are read from these areas of the brain and interpreted. The technology can also send signals and stimulate these areas of the brain. The behind-ear microchip is powered by a wirelessly rechargeable battery and even features bluetooth connectivity.
What does this mean for audiology?
Neuralink’s current focus is making medical devices for people with neurological disorders and other impediments but there is a long-term vision to create systems available for the general population with audiology applications in the early stages of research.
The system bypasses the ear entirely and interfaces with the auditory cortex and as the technology matures – it could revolutionise hearing treatment by either amplifying sound input or by connecting to a microphone receiver wirelessly.
Demand is outstripping supply
Acquiring higher value patients
Shifting focus to higher value patients presents a strategic opportunity for companies like Specsavers to accelerate growth by tapping into underserved private patients. This would increase sales value while utilising existing infrastructure and resources, gaining a competitive edge with a minimal strategy change in the midst of a talent crisis.
With this line of thinking, a question arises – How do companies acquire high value patients and how can this be done reliably at scale?
To answer that question, companies must first understand the purchase behaviour that private patients exhibit, namely that they research multiple providers and trusted information sources before deciding which brand to enquire with for an appointment.
Patients consult an average of 10 traditional and new media sources before consideration, a fact that presents an opportunity for businesses that can find a way to increase exposure to this lucrative market at a pivotal stage in the buyer journey.
Many companies however, don’t have relationships with relevant influential publishers to tap into this audience or simply lack the resources in expertise and time to drive meaningful volumes of new customers, but hope is not lost as this is where third party customer generation partners can step in.
MVF helps audiology companies open up new streams of revenue by providing a turn-key solution for generating high value patient opportunities, sourced through a suite of owned brands not accessible anywhere else. Brands that help thousands of private patients make complex purchase and care decisions every single day.
In conjunction with access to this exclusive audience, MVF boasts unparalleled reach across an additional 30+ channels and utilises them to drive appointments and sales for audiology businesses across the globe.
Want to learn how much volume you are missing out on? Speak with an expert.