As the medical studies are thriving day by day, cord blood banking has become a much-discussed topic today. Once considered as medical junk, now scientists and researchers are encouraging parents to save their babies’ cord blood in a storage facility. Because they believe this cord blood can save a chunk of lives from many pernicious diseases.
What is cord blood?
Now, take a look at what is cord blood. Highly rich in stem cells, cord blood is basically the blood which is present in the placenta and umbilical cord just after the delivery of a baby. A plethora of medical studies have claimed that this cord blood is very useful for the baby and the family members because it can treat nearly 80 lethal diseases like diabetes, Parkinson's, multiple sclerosis and leukaemia.
Cord blood banking cost
Cord blood banking cost
It is true that the benefits of cord blood are unfathomable. Moreover, several medical campaigns are spreading the awareness of cord blood banking, still, parents are thinking twice before saving it because of the cord blood banking cost. The cost of cord blood banking in a private bank is humongous. Most of the private banks usually charge the initial fee which comprises enrolment, collection and yearly storage process. Then, you need to pay the cost of storing the umbilical blood and the annual storage fee.
You might be astonished to know that the initial storage fee is nearly $600-2200, depending on how long years you want to store it. You can store up to 20 years depending on your requirement. The cost covers the collection kit, transportation service to the bank, and the initial processing fee. Then, you need to pay the annual storage fee amount which is nearly $80-120. Now, suppose, if you need to pay $ 1500 as a one-time payment, the annual fee is $100 and you want to save it for twenty years, then altogether your cost will be $3500. This is not a small amount, so need to decide wisely whether you want to go for cord blood banking or not.
The cost of processing and storing in the freezer is very high and that’s why cord blood banking storage is so expensive. Now, some private banks are performing all the processes in-house so that they can keep the cost affordable for the parents. The cost of cord blood banking varies from one private bank to other. This is because some private banks don’t incorporate shipping charges into their bills. So, it would be a prudent decision for you if you go with an accredited storage bank to avoid all the hidden charges.
Is cord blood banking worth it?
This is a big question that comes to the mind of every parent. The prime reason for saving cord blood is it can cure more than 80 diseases. So, if you have a family history of diseases like leukaemia, lymphoma, sickle-cell disease, Alzheimer's disease, Parkinson's disease, etc., then storing cord blood is a perfect choice for you because it can save lives. But if you don’t have such a history, then you need to rethink whether you should store cord blood or not. Because the storing cost is huge with some private banks. If you want to store it in a public bank with no fee, then they can use it in treating any patient. So, you may not access it exclusively.
Though cord blood is very useful in treating a plethora of diseases, still many medical studies have proved that it can’t cure genetic diseases and that’s why the use of cord blood is very rare. Some banks even discard it after a certain period of time.
These are some factors that you need to evaluate before making the decision whether you should go for a cord blood bank storing or not. If you have decided to store your baby’s cord blood, start planning early. Because this will help you in your budgeting as well as you will find a suitable bank for you where you can get the best services.
CryoCord is a pre-eminent private cord blood bank in Southeast Asia which is equipped with all the facilities and the latest technologies. The blood bank was established in 2002 and since then, they are providing unmatchable services to the parents who want to store their babies’ cord blood. If you want to store your baby’s cord blood for a better future, then contact them for their services.