The Food and Drug Administration proposed development of a new type of hearing aid that could be sold directly over-the-counter to patients in need of the device.
In its proposal, the agency said that the new rule would allow for the continued growth of innovation and would spark more competition by cutting the red tape that is currently in the way for new manufacturers to enter into the economy.
The pitch comes in the wake of President Joe Biden’s executive order the called on the Department of Health and Human Services to “promote the wide availability of low-cost hearing aids,” along with many other products in an abundance of sectors.
New estimates from the White House indicate that average Americans in need of the hearing devices could save thousands of dollars if the proposal is approved, Reuters reported.
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