The majority of hearing-impaired individuals who use hearing-aids or undergo surgery to receive cochlear implants expect to hear well. Unfortunately, tens to thousands of patients still have severe hearing problems in the real world. A clinician may have incorrectly adjusted the settings of the medical device. Audiologists and speech-language therapists require a hearing test that can accurately and quickly assess the ability of an individual to hear in a noisy environment. Such a test is especially important for children, as early intervention can reduce slowed learning. It is estimated that if children with hearing loss do not receive early intervention, special education for a child with hearing loss will cost an additional $420,000 in special education costs and result in a lifetime cost of approximately $1 million per child.^[1] In adults, hearing loss can begin as early as age 50 and lack of early intervention can lead to loss of jobs, emotional distress and even cognitive disorders. A person could be affected by hearing impairment for up to half of their life, considering that the average life expectancy is 90 years.

Pure tone hearing tests, which require audiometers and sound proof booths to deliver the tone, are currently used to evaluate hearing loss. These tests can only evaluate the fundamental hearing loss but they cannot predict how an individual will be able to understand sentences and words in a real environment. Current tests also cannot asses whether or not a second cochlear implant or second hearing aid would significantly improve the hearing of a patient. This is important to patients and their families as cochlear implants and hearing aids cost approximately $40,000 and $5,000, respectively, and often are not covered by insurance companies.

Auris Solutions is an early stage hearing care company, which solves these market needs by delivering novel and scalable software-based hearing tests that rapidly and reliably assess hearing in a realistic environment. Our tests, unlike other tests, allow clinicians to optimize the settings of hearing devices and make recommendations on the purchase or replacement of hearing devices for their patients. It is possible to set the medical device correctly for each patient, which can save them from hearing problems and other mental issues. Our tests will be a mandatory component of any audiology clinic’s collection of hearing tests. They will be performed after the audiogram tone test.

Auris Solutions’ first product, CRISP, is now available for sale. This computerized system allows children to test their speech comprehension by computer. It is a reliable and rapid way to test their hearing ability.

Auris Solutions currently needs $250,000 in order to implement our marketing strategy and offset our start-up expenses, which include product acquisitions and business development plans for future and existing products.

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[1] http://trfn.clpgh.org/shhh/Factsheet.html#r1

1.1 Objectives

• We will develop a business plan that will enable us to achieve or exceed 75% gross margin.
• We will hire a management team with relevant experience and knowledge to enhance and promote the company’s core competencies.
• We will satisfy customers by providing products that are free from defects and exceptional customer service that consistently exceeds customers’ expectations.
• To grow the market for hearing care, we will spend a large portion of our sales revenue on research and development.

1.2 Mission

Auris Solutions, LLC, an innovative provider of solutions for refining hearing impairment diagnoses, offers a wide range of services. We are proud of the fact that we offer products that are more reliable, efficient, and faster than our competitors. Our company will be managed to achieve long term profitability and plan growth.

We will expand by building on our existing strengths and meeting the needs of customers. Auris Solutions, LLC will maximize shareholder value and be recognized worldwide as a solution provider company in the hearing sector.

These are the values we stand by

• Corporate Responsibility The Company will take part in community events.
• Ethical Standard-The Company will continue to operate on sound ethical principles.
• Compassion We are open to all with kindness, concern, and openness.
• Respect #8211 We respect the wonders of the human soul.
• Excellence We expect the best from ourselves and each other.
• Stewardship Responsible use of our resources
• Community « We cultivate relationships which inspire us to serve. »

1.3 Keys to Success

Auris Solutions’ goal is to provide our customers the best products as well as related services. Our most valuable assets, our employees, will be the first to demonstrate our commitment to quality. Our employees will be held responsible for the following areas that are critical to our success:

• 
  Management Group:
  
• Hire the right people to work for the company
• Establish evaluation standards and policies for all employees
• Reassure staff members of their responsibilities and delegate tasks
• 
  Sales & Marketing:
  
• Auris brand and its product offerings should be made well-known
• Implement a sales strategy
• Reduce barriers to entry
• Implement a marketing plan that successfully brings our advertisements and products to the target market
• All products purchased after purchase are eligible for customer support
• Product development and product quality:
• Launch new products right on time
• Establish quality processes
• 
  Management & Customer Care:
  
• Take control of your purchases
• All purchases should be based on customers’ needs
• This will reduce overhead costs and the need for in-house inventory
• Set marketing budgets and manage accounts receivable
• Create a program to ensure customer satisfaction
• Shipment and delivery of products on time
• Effectively address customer complaints