There aren’t many facilities that provide cord blood banking, with about 20 in the US providing public banking and about 35 providing private or family banking. However, the number of cord blood banks is expected to increase as many people find it a viable option to donate blood for personal or public use. Banking cord blood for public use is considered to be free.
This means that you don’t have to pay anything when you donate blood to the public banks. The collection, testing, and storage are done completely free. Private cord banks, on the other hand. charges somewhere between $1500 to about $2500 for the collection, examination, and registration.
Besides, there is another charge that is paid every year and it ranges from $75 to $175. The cord blood registry or listing of donated cord blood is used to help get possible matches that can be used to treat patients. Both private and public blood banks require that mothers are tested to ensure there aren’t infectious diseases like HIV and hepatitis.
Why It Costs So Much?
Cord blood banking proves to be a costly process because of the technology and logistics involved. There aren’t many banks to preserve the cord blood, so you would expect that it won’t be cheap. You want the cord blood to be handled using top class equipment and expert technicians, and that won’t be cheap. Public cord banking is a suitable option for many parents because it is free compared to private cord banking.
Who Pays For Public Cord Blood Banking?
Public cord banking, although free for the donor, it involves a considerable amount of cost. Public cord banks pay for the expenses which range from about $1500 to about $2500 for every unit to be preserved and stored. The federal government also offers funding programs to help public cord banks continue to collect and store cord blood.
Health insurance doesn’t usually reimburse families for costs they incur to facilitate cord blood banking. If you are going to consider it, there should be an incentive to that. For example, you should donate it free to public banks so that you save the life of a person, should a patient need it. That’s in a way an incentive. If you have a history of hereditary disease that may be passed on to a newborn or a relative diagnosed with a disease treatable using cord blood, you also want to bank it. It may be expensive; however, it is worth it, because if you take the blood to a public bank, and later on you want to use it, you may pay dearly for it. It could cost you upwards of $35,000 to retrieve cord blood that you donated for free to a public bank.
There are however, financial aids that may be available to people who need to bank cord blood for family use and they don’t have the financial strength. For example, a bank may help with some processing and storage costs in special circumstances.
Understanding the advantages of cord blood banking and the limits can help you make a wise decision. Your newborn stem cells are very important for the family and the public. Even when there is no anyone in the family with a disease that can be treated with use of infant’s cord blood stem cells, it is likely that another person may benefit from the cells.
Keywords: of cord blood banks; cord blood registry; public cord banking; cord blood banking; newborn stem cells; stem cells
- How Much Does Cord Blood Banking Cost? Available at https://www.parents.com/pregnancy/my-baby/cord-blood-banking/how-much-does-cord-blood-banking-cost/
- Storing cord blood in a private bank. Available a https://www.babycenter.com/0_storing-cord-blood-in-a-private-bank_1369773.bc
- Public vs. Private Cord Blood Banking. Available at https://www.mazecordblood.com/2017/09/11/public-vs-private-cord-blood-banking/