Some schools may dismiss your application based on their technical standards, however other schools will recognize how your hearing loss has shaped your experiences and what you have to offer.
There are doctors who are profoundly deaf. Accommodations can be made in the workplace: having a full-time interpreter (if one signs), using clear surgical masks to aid in lip-reading, relying on beepers rather than PA systems, etc. Many people who are hard-of-hearing can pass without others realizing their level of hearing loss. In applications/interviews/etc, you'll just have to stress how it does not hold you back in any way.
A memoir I'd recommend reading is "When My Phone Rings, My Bed Shakes," by Dr. Philip Zazove.