A baby monitor can be used for anything... in order to hear/listen to kids or other things.
For me, even if my kids are not babies anymore, I STILL use our baby-monitor because, if I am downstairs and my kids are upstairs, or we have friends over and the kids are all over the house... well, I put on the baby-monitor to hear them and to keep track of anything... since my eyes can't be everywhere at the same time and especially if I am cooking or talking to other people etc., and if my kids are sick and during the night it can be a great way to "hear" your child... when you may not be able to hear them...
So, yes, it is practical for many reasons, even when not used specifically for babies. You could set the baby monitor in your bedroom, next to you on the bedside table, and increase the volume knob, so YOU can hear your child, sans your hearing aide.
You could just buy any "baby monitor"... it is not specific for deaf/hard of hearing people. A baby monitor being a sound transmitter...
It is not an "intercom" which is a 2-way sound transmitter.
Good luck,
Susan