With rapid advances in research and discovery cord blood banking is a much discussed topic today. The medical profession acknowledges that saving your babys stem cells in a bank can save lives and act as biological insurance.
The costs of cord blood banking is justified by the fact that its stem cells can treat as many as seventy diseases, with the list growing. This is why more and more parents would like to insure their childs health by storing the newborns umbilical cord stem cells, just in case they need to use them. Stem cells are more effective than bone marrow stem cells and can be used to treat genetic diseases, cancer, leukemia, spinal cord injuries and other inherited disorders. They can help rebuild the persons immune system.
Hospitals dont do this type of storage as a matter of routine. This is a decision you have to make well in advance, preferably around 28 weeks of pregnancy and be prepared during delivery.
With All The Wonderful Benefits Of Cord Blood Banking, What Are The Costs Involved
Often, even the awareness the cord blood banking can save lives makes the parents think twice about storing it when faced with the costs of banking. The basic charges involved with a private bank are the initial fee comprising of enrollment, collection and storage for a year. Then comes the cost of storing the blood, the annual storage fee. Certain facilities give you a variety of options in the initial fee based on fixed storage periods.
The initial fee ranges between dollar 600 and 2100, based on how long you want to store the it, which can be for even 20 years. This includes cost of collection kit, courier service to the cord blood bank and the initial processing fee. After that the annual storage fee amounts to an average dollar 100. You can, of course, get prepaid plans with discounts as well as payment plans that lighten the burden of the initial costs. Also, some private banks will offer free facilities to needy families that cannot afford the costs.
The main reason why cord blood banking is expensive is that the cost of processing and storing it in freezers is high. Even in public banks where you dont pay money, they do incur substantial initial charges for collection, processing and storage. Some private banks try to keep costs affordable by performing all process in house. Getting itself accredited is a costly affair for a reputed private bank in addition to the cost of advertising, maintenance and other overheads.
Sometimes the costs vary from one private bank to another and this could be because some dont include shipping costs, which could mean another dollar 150 in their pricing. If the private bank is not accredited, you cant be sure of what sort of service you will get and how your cord blood is being processed. In short, cost variations are due to quality differences. So it is better to stick with an accredited bank and find out about hidden charges in advance.
Is Cord Blood Banking Worth It
There are different aspects to consider here. The prime reason for parents to think about cord blood banking is when they already have a child or close family with a history of diseases like leukemia, anemia and various immune deficiencies. In such situations, the stored stem cells are a perfect match, resulting in saving lives. On the other hand, where it is being considered as a risk-coverage option, it is a decision the parents have to take and here is where the costs of banking factor comes into play. There is the question of whether to donate to a public bank or store in a private cord blood bank for a fee. With a public bank you wont have exclusive access to the stem cells. In not-for-profit public banks they can use it for any patient in need or for research purposes. In for-profit public banks, they can sell it.
Cord blood banking is essential to safeguard your family's health. The preservation can help you save from the ill effects of many dreaded disease.
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Cord blood banking is essential to safeguard your family's health. Cord blood preservation can help you save from the ill effects of many dreaded disease. Before selecting the bank for this purpose, check the costs of cord blood banking offered by various banks.
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