More parents are opting for cord blood banking than ever before. But with the improvement in technology and processes, its cost is ever-changing. You cannot make an informed choice about cord blood banking without details about its cost. In fact, it is imperative that you conduct due research about it before choosing a cord blood bank.

Here’s more about cord blood bank costs.

Total Costs

When you choose to bank your child’s cord blood for his or her own use, you will need to use a private company for it. The cost of cord blood banking with private companies can be up to $1400. It can be more or less depending on the storage technology used by the company.

For instance, a company that uses the BioArchive system for cord blood banking may charge $1300-$1400 dollars or so. You will need to also pay an annual fee for storage. It can be anywhere in the range of $125-$175.

Cord blood bank costs may include the processing fee, testing fee, medical courier expense, and annual storage fee.

It is best to contact several good private cord blood banks and inquire about the costs. Check their processes, technology, and industry reputation and assess if their fee is justified with what is on offer for you.

Packages

When you opt for packages, you are likely to save a considerable amount on the total cord blood bank costs.

You can choose a package that includes storage for cord blood only. The other option is to choose a package for cord blood along with cord tissue. You might end up getting a nice discount offer on a combined package of cord blood and tissue. For instance, cord blood banking may cost you around $1400. But you may be able to get the option to store both cord blood and tissue by paying only $1600 or so.

Cord tissue refers to the umbilical cord. It contains stem cells that differ from what is present in cord blood. The mesenchymal stem cells (MSC) present in cord tissue have the ability to differentiate into organ cells and tissues such as those of the heart, nerves, bones, muscles, and more. So, it may be useful for you to check the information on cord blood banking and if you can get a good pricing offer on it.

You can also choose banking options of 1 year, 18 years, or a lifetime. You might get offers on each of these options. So, ensure that you check them all out to find the most suitable package for you. You can discuss the time period with your child’s doctor if you are unsure about which one to choose. If your child suffers from a medical condition or is at risk of developing a disease that may require stem cell treatment, it is best to choose the lifetime option. But your child’s doctor may be able to give you the most pertinent information.

Before you decide on a package, ask the bank representative to provide you with all the details such as cancellation fee, cost of the collection kit, medical courier charges, and any other cost involved in the cord blood collection.

Collect all the information pertaining to the quality standards and the processes for cord blood banking. Cord blood bank costs must be comparable with the services of the bank. Otherwise; your money is as good as wasted.

Payment Options

Most reputed cord blood banks will offer their clients the option to pay in different ways. You can pay the fee each year. You can pay the amount in lump sum. You may be also able to pay via financing. So, don’t opt out of cord blood banking due to budget constraints. If it is essential for your child’s health, you need to store the cord blood. Cord blood companies realize the significance of easy financing option for parents. So, utilize them if you need it.

If you find the cord blood bank costs a tad expensive, discuss the financing option with an executive at the company. Feel free to discuss all the options with him or her before finalizing a package and the payment option.