How Much Is Cord Blood Banking?
Cost Of Cord Blood Banking
Before I tell you how much is cord blood banking, here is a quick overview of how it is processed.
Cord Blood Collection Process
The procedure of cord blood banking is simple, harmless and painless. It takes few minutes to complete the medical process and is done right after birth. After researching on various cord blood banking process here is a general picture of how it is done:
- The parent is given a cord blood collection kit once they register with a bank
- The parent is then supposed to bring this kit to the respective hospital on delivery date & give it to the nurse or delivering physician
- The physician then collects cord blood & maternal blood (to test if there are any infections) after birth
- The parent then has to ship the collected cord blood to the bank using pre-arranged courier
- The bank then performs some tests on the recipient’s cord blood to know if there are any infections.
- Once the test results arrive and if there is any infection found, then it will not be stored. Instead, a certificate or report is given to the family
If you are making a decision of storing your baby’s cord blood, then you would certainly want to know how much does cord blood banking cost. Well, it is not cheap. It is expensive. If you are donating the cord blood, then the respective public bank will cover the entire cost of collecting, processing & storing. You don’t have to pay anything. So, the cost of cord blood banking is more often refers to a private bank.
Usually, two charges are involved with cord blood banking.
- Initial charges – covers registering, testing and collection fee with1 year storage (minimum)
- Secondary charges – yearly charges for cord blood storage
The price is high, but the cost of cord blood processing is considerable. On the other hand, cord blood banking cost varies from one foundation to the other. However, based on the predetermined storage period, the charges range between $900 and $2100. The annual storage charges after initial storage costs will be around $100 to $150. If you are planning to preserve it for a long time, say for example 10 years or 20 years, then the chances are that few banks might offer discounts.
Cord Blood Bank Cost Overview
- Start-up Charges – around $300 (varies from one bank to the other)
- Collection, Testing, Processing & Storage charges – between $900 & $2100 (for 1 year)
- Additional Annual charges – between $100 & $150
If you don’t find it affordable but still wish to preserve your baby’s cord blood, then there are many banks offering payment plans, which range from 0% interest installments given for few months to long-term financing along with interest. Often banks offer all-inclusive price package on 20-years cord blood storage. On the longer run, this is certainly less expensive when compared to usual price model.
- Few cord blood banks give discounts if a family prepays storage for long periods like 5-years, 10-years or 20-years.
- Few cord blood banks incorporate medical shipping charges as their base fee.
- Few cord blood banks give discounts for a family, who banks more than one baby’s cord blood.
- Few give special offers or “limited time” discounts; wherein one can get coupons from the respective cord blood bank’s website.
If you have any associated information on cord blood banking, which you think others must know, feel free to drop them in the comments box.