Cord blood is found in the baby's umbilical cord and a mother's placenta. Though these remain connected at the time of the birth of a baby, later doctors cut it down. For many, there is no significance of cord blood. Most people do not care about it. Doctors cut the umbilical cord and the blood waste. However, cord blood can be a reason for life-saving. Yes! You have heard it right! If you store the cord blood for now, you can use it in the future for your family, which has the ability to cure almost 80 critical diseases. This can be an insane solution for many lives!
Especially when it comes to a person with unique blood diseases, they might need blood transplantation, and cord blood is the only solution. Are you thinking about storing cord blood now? Well, it has its cost! If you want an obstetrician to collect your baby's cord blood, that will be a non-surgical process with no pain! However, the pain can be in your pocket! Though public cord blood banking is free, it is not considered a storage but a donation. There is no surety of getting the particular cord blood of your baby in need in the future. Public cord blood banks work as trusts that use any emergency situation as their operation purpose.
In contrast, private cord blood banking gives you assurance of storage for more than 20 years. However, this storage process is also seen as an investment and thus comes with a cost.
How Does Cord Blood Banking Work?
You have already understood that cord blood banking is an essential process. However, the workability might not be clear to you. Well, don't worry! We have got you covered this time.
Cord blood banking is the storage process of your baby's cord blood after it is collected using a sterile needle. As a rich stem cell source, cord blood can help treat various critical health conditions and diseases. Well, the workability of this storage process is simple yet professional. It is pain-free for your child and the mother.
- The umbilical cord is cut and clamped shortly after birth.
- The blood is drawn from the umbilical vessels into a collection bag.
- The blood is packaged and sent to a cord blood bank for long-term storage.
- The stem cells and other cells of the immune system are extracted and cryogenically frozen.
While public cord blood banking comes with both federal and private funding, they do not consider banking charges from people. However, the disadvantage is that you cannot claim cord blood later on. So, the only way to store your baby’s cord blood is to go for private cord blood banking.
However, cord blood banking should be more affordable so that the highest clinical and scientific standards can reach common people. The previous promotions of cord blood banking were not enough for everyone to afford, and that created a huge inconsistency in the treatment process with discrimination.
Standard Costs Of Private Cord Blood Banking
Depending on the standard and combinations, cord blood banking prices may vary. Well, it may also vary from company to company. We have considered a standard price, which you can see as an estimated average of cord blood banking costs. Our notion is to give you a general idea of cord blood banking costs.
Initial collection: $1,350 to $2,300!
However, after you have paid the initial, your duty regarding payment is not complete yet. You have to pay a premium per annum, which is considered as the storage fee.
Storage fees: $100 to $175 per year!
Is A Discount Available?
Depending on the net price and the duration of storage, the private cord blood banks can offer you up to 20% discount on the initial cost. However, with the issues raging all over the world by common parents, private banks are trying to ensure better discounts altogether. Sometimes, depending on the purpose and solutions, you might get a discount of up to 65%, which is a huge cost cut from the initial price compared to the standard rate.
Does Health Insurance Cover Cord Blood Banking?
Well, no!
Typically, no health insurance company would cover the cord blood banking cost! They would not like to pitch these needs to a person.
They will mainly cover the hospital costs and treatment. But the storing process will be on your own. So, it's better to try out the exceptional discount features. Look into the market and grab the best deals.