Cord Blood Pricing
If you’ve decided to bank your cord blood, the cost of the service is probably going to play a role in your decision of which cord blood bank to bank with. Since the difference in price can be significant the temptation will be to go with the least expensive bank. But before you commit, you may want to consider all of the options.
Comparing the Prices
Fees for the first year of cord blood banking can range from US$879 to over US$2,000 with the average fee being US$1,450. It may be tempting to feel as though the more expensive banks are simply over-charging for the exact same services as the less expensive ones, but that is not necessarily the case.
The important thing to realize is that the fees you’re paying to bank your baby’s umbilical cord blood are not just covering the laboratory fees for processing. A reputable cord blood bank will need to be accredited, which is an expensive process, and must be maintained by abiding by certain regulation. Factors such as advertising costs, employee salaries and upkeep of lab facilities will also figure into the price.
The cost of the bank should certainly not be the only thing you consider when choosing a cord blood bank. You should check to make sure that the bank has a good reputation, AABB accreditation and follows all of the regulations and guidelines set out by the FDA.
Your baby’s umbilical cord blood is important, and should not be trusted to just anyone. Remember that even if a cord blood bank has a good commercial or lots of advertising that doesn’t necessarily mean that it’s the right choice for you. Make sure you look into how the bank is run, how good its laboratory facilities are and how well it’s staff are trained.
Making it Affordable
Because of how overwhelming the fees involved in cord blood banking can seem to parents, many banks now offer discount and payment plans to their customers. Additionally, many banks now allow you to choose to pay in installments or in a lump sum.
When you’re choosing a cord blood bank, don’t be drawn in by a rock bottom price or a flashy TV commercial. Take the time to research the facilities, find out if they’re accredited, what kind of payment plans they offer and how their reputation is. Just because one bank charges more doesn’t mean they’re offering a better service. Make sure you choose the best bank you can find, the one that fulfills for your needs.