Private cord blood banks charge fees for collection and safe storage of cord blood. If you want to store cord blood in a private bank, you will be charged a processing fee that may range from $1000 to about $3000. There is also annual maintenance fee that ranges from $90 to $175. Some banks may offer a single price for 20 years and this tends to be cheaper compared to the typical price model featuring annual storage fees. Some banks may offer payment plans that entail no-interest installments being settled over a couple of months to much long term financing that attracts interest.
A report presented by U.S. Government Accountability Office (GAO) in 2011 indicated that a public cord blood bank spends about $1500 to $2500 to collect, test, process, and store each cord blood unit. There are also additional costs associated with licensure requirements and collection of units that are to be discarded due to not meeting quality standards. Probably, people would ask, why do public cord blood banks have to incur an expense yet they allow patients to donate the blood for free.
The public cord blood banks are able to recover the costs they incur to operate when they release the stored units for transplants. Many patients who will need the cord blood transplants will have to pay for the units they get and the payment may be covered by health insurance or their national health plan. Because of the funding limitations, it is not possible to have cord blood donations in every U.S. hospital, so you have to find out which hospital offers the service if you wish to donate cord blood.
Between 2007 and 2016, public banks gave access to more than 62,000 units intended for research and in 2016, the units distributed for research were 8,000. This is according to U.S. Department of Health and Human Services (HRSA).
Keywords: public cord blood banking; stem cell; storage of cord blood; public cord blood banks; cord blood donations
- Donating cord blood to a public bank. https://www.babycenter.com/0_donating-cord-blood-to-a-public-bank_1356495.bc
- Cord Blood Banking for Potential Future Transplantation. http://pediatrics.aappublications.org/content/119/1/165
- Storing cord blood in a private bank. https://www.babycenter.com/0_storing-cord-blood-in-a-private-bank_1369773.bc