How Much Does Cord Blood Banking Cost?
According to Cord Blood Registry, cord blood is defined as “the blood that remains in your baby’s umbilical cord after the cord has been cut, is a rich source of unique stem cells that can be used in medical treatments.” Cord blood has been shown to help treat over 80 diseases, such as leukemia, other cancers, and blood disorders. This cord blood, which can be safely removed from your newborn’s already-cut umbilical cord, can be privately stored for the purpose of possible use in the future for your child or family member. (It can also be donated to a public bank, but this is not widely available)
How much does cord blood banking cost?
- There is usually a one-time processing/preparation cord blood banking cost fee of around $2,000. First year fees on average can range anywhere from $500 to $2,000.
- There will be some kind of shipping charge, usually around $150.
- There is an annual storage cost of anywhere from $100-$200 depending on the company you choose.
- CordBlood.com has a one-time processing fee of $2.070. The first year of storage will cost $125 after that. They also have low-cost monthly payment plans that start as low as $61 per month.
- According to this ABCNews.com article, the one-time fees are often around $2,000 to $3,000.
Cord blood banking cost comparison:
|Company Name||Website||1st Year Cost||Annual Storage Fee|
|Cord Blood Registry||CordBlood.com||$2,070||$125|
|Cord Blood Solutions||CordBloodSolutions.com||$1,800||$125|
|New England Cord Blood||CordBloodBank.com||$2,000||$125|
What is going to be included?
- The extraction of the cord blood from your baby’s umbilical cord is the first step. If you choose not to bank the cord blood, it will merely be thrown away.
- The cord blood will be prepared for temporary storage while being shipped to the storage facility.
- Once it arrives at the storage facility, the cord blood will be processed and placed in storage. The cord blood will either be completely immersed in liquid nitrogen or it will be stored in nitrogen vapor.
- As of 2016, there are about 34 companies offering cord blood banking services.
What are the extra costs?
- Some cord blood banks also offer storage of the cord tissue for an additional charge.
- Some banks charge extra for the collection kit, but these are usually included.
- An administration and courier fee could be added with the initial payment.
- Some companies, such as ViaCord, may allow you to store tissue. This can often add another $1,000 to the one-time fee.
Tips to know:
- Cord blood banking is ideal for families that have diseases such as leukemia, lymphoma, cancers and sickle cell.
- If you feel that the procedure is too expensive for your child, check with the hospital to see if there are any programs and/or grants available that can assist with the procedure. Some companies do offer financial aid.
- Cord blood banking is highly ideal for those that want to have quick access to the blood cord units. This is ideal for procedures such as a transplant.
- Even if you don’t want to store the cord blood, highly consider donating the cord blood to local public banks. This cord blood can help patients that are on waiting lists with diseases such as leukemia.
- If highly considering the option of donating cord blood, be sure to notify your OB/GYN or hospital during the 34th week.
- When choosing a cord banking company, make sure that they are accredited by the American Association of Blood Banks.
Questions to ask:
- Is the bank public or privately held? How is this company financially?
- Is the bank related to any type of institution or hospital?
- Is the cord blood banking center affiliated with any type of research center? Some centers may use the cord blood for research, rather than sending it off to donate it.
- Are there any other services that you offer that I can take advantage of?
- How long have you been in the business of cord blood banking? Why should I choose this company?
- How many samples do you currently hold? How are they stored?
Pros and Cons:
- Con: Scientists have stated that unless your child has a rare blood type, a donor can easily be found, and the umbilical blood is unnecessary.
- Con: There is no guarantee that cord blood banking works. While the chances can be increased if your child were to have cancer, no bank will guarantee this.
- Pro: It gives you that peace of mind that if anything did happen to your child, the doctors would have access to their blood. This could potentially be a great benefit, and you would have no idea what would have happened if it weren’t for this blood.
- Pro: As technology gets better and better, doctors may be able to use your child’s blood for other reasons.
- Pro: Scientists note that the cells from cord blood are less mature and a recipient’s body will have a less likely chance of being rejected.
- Con: It can get rather expensive. A family with three children could be paying close to $400 a year to store blood.
- Con: Cord blood is usually used to treat diseases in children. Since there is less than five ounces, there won’t be enough to treat an adult.
Is cord blood banking worth it?
- Banking your child’s cord blood really comes down your personal choice. Some people may seem the potential benefits, while others can’t justify the costs. No one debates cord blood cells being a lifesaver, and in recent years, more than 20,000 lives have been saved because of it; however, experts, such as The American Academy of Pediatrics, note that your odds of using this blood is about one in 200,000. Instead of buying into a company’s advertising scheme, be sure to do your own research and deem what’s best for your child’s future.
How can I save money?
- Many blood banks offer discounts to people who pay in advance for a certain number of years. There are also payment plans that are available so that you don’t have to pay a full amount up front.
- You may also purchase some of the Cord Blood Banking Books that can inform you of a lot more things that you should be aware of.
- If you’re thinking about donating your child’s tissue with the cord blood, many storage facilities will offer a combined discount.
- Some hospitals such as the Children’s Hospital Oakland Research Institute will bank cord blood to those that meet certain criteria. More information can be found on their website.
- Cord blood banking companies have gift registry options where you can have people donate money. This is a great idea for those who are having a baby shower and need ideas.
How can I compare prices?
- When choosing a cord blood bank, you need to inquire how the blood is stored (liquid nitrogen or vapor).
- You should also ask how the temperature of your specimen is regulated.
- How the facility is built (for instance, would it withstand a tornado or other natural disaster) can have an effect on the safety of your specimen.
- The location of the storage facility does not matter as much as these other issues.
- Discounts are often offered to students, military and for those who have twins or triplets. Ask the cord blood bank to see what kind of discounts they offer.
Advertising Disclosure: This content may include referral links. Please read our disclosure policy for more info.