With rapid advances in research and discovery cord blood banking is a much-discussed topic today. The medical profession acknowledges that saving your baby's cord blood stem cells in a cord blood bank can save lives and act as "biological insurance". The costs of cord blood banking is justified by the fact that cord blood stem cells can treat as many as seventy diseases, with the list growing. This is why more and more parents would like to insure their child's health by storing the newborn's umbilical cord blood stem cells, just in case they need to use them. Cord blood stem cells are more effective than bone marrow stem cells and can be used to treat genetic diseases, cancer, leukemia, spinal cord injuries and other inherited disorders. They can help rebuild the person's immune system.
Hospitals don't do cord blood banking as a matter of routine. This is a decision you have to make well in advance, preferably around 28 weeks of pregnancy and be prepared during delivery.
With All The Wonderful Benefits of Cord Blood Banking, What Are The Costs Involved?
Often, even the awareness the cord blood banking can save lives makes the parents think twice about storing it when faced with the costs of cord blood banking. The basic charges involved with a private cord blood bank are the initial fee comprising of enrollment, collection and storage for a year. Then comes the cost of storing the cord blood stem cells, the annual storage fee. Certain facilities give you a variety of options in the initial fee based on fixed storage periods.
The initial fee ranges between $600 and 2100, based on how long you want to store the cord blood stem cells, which can be for even 20 years. This includes cost of cord blood collection kit, courier service to the cord blood bank and the initial processing fee. After that the annual storage fee amounts to an average $100. You can, of course, get prepaid plans with discounts as well as payment plans that lighten the burden of the initial costs. Also, some private cord blood banks will offer free facilities to needy families that cannot afford the costs. The main reason why cord blood banking is expensive is that the cost of processing and storing cord blood in freezers is high. Even in public cord blood banks where you don't pay money, they do incur substantial initial charges for collection, processing and storage. Some private cord blood banks try to keep costs affordable by performing all aspects of cord blood banking in-house. Getting itself accredited is a costly affair for a reputed private cord blood bank in addition to the cost of advertising, maintenance and other overheads.
Sometimes the costs of cord blood banking vary from one private cord blood bank to another - and this could be because some don't include shipping costs, which could mean another $150 in their pricing. If the private cord blood bank is not accredited, you can't be sure of what sort of service you will get and how your cord blood is being processed. In short, cost variations are due to quality differences. So it is better to stick with an accredited bank and find out about hidden charges in advance. Is Cord Blood Banking Worth It?
There are different aspects to consider here. The prime reason for parents to think about cord blood banking is when they already have a child or close family with a history of diseases like leukemia, anemia and various immune deficiencies. In such situations, the stored cord blood stem cells are a perfect match, resulting in saving lives. On the other hand, where cord blood banking is being considered as a risk-coverage option, it is a decision the parents have to take and here is where the costs of cord blood banking factor comes into play. There is the question of whether to donate to a public cord blood bank or store in a private cord blood bank for a fee. With a public bank you wont have exclusive access to the stem cells. In not-for-profit public cord blood banks they can use it for any patient in need or for research purposes. In for-profit public cord blood banks, they can sell it.
Cord blood banking is essential to safeguard your family's health. Cord blood preservation can help you save from the ill effects of many dreaded disease. Before selecting the bank for this purpose, check the costs of cord blood banking offered by various banks.