2 yr old failed hearing test?

My twins just turned 2 last week. One is speaking in 2-4 word complete sentences and my other baby says maybe max 8-9 words total. No sentences. When he speaks it almost sounds like he gets the very beginning of the word correct but the end. For example he will say mine but pronounces it like my. It's like this with every word. Long story short went to the pediatrician today and he failed the hearing test. They said his eardrum didnt respond to any sound at all. I'm going to go and get a second opinion hopefully tomorrow or Monday. I'm freaking out. The pediatrician started talking about cochlear implants and hearing aids. She sent us a referral to a pediatric audiologist but that wont be for a few weeks. Has anyone had a toddler fail like this and everything turn out ok? I should also add my twins were born at 34 weeks and my baby having issues was 4 lbs 6 oz. He did fail the hearing test in the hospital 2x after birth and barely passed the one done by the ent when he was 2 weeks old. They told me not to worry it was most likely cause by amniotic fluid in the ears back then. Hes hit every milestone until now.