For a small amount, a private cord blood bank can collect process and preserve the stem cells of a newborn baby through freezing. Family cord blood banking is another name for private cord blood banking. This type of banking is a great way to save your baby’s cord blood for your family. It is different from public blood banking which store blood to help other individuals.
Getting what you pay for with private cord blood banks
Well, we all know great quality does not come cheap. The less costly banks operate with small amounts of profits. However, cheaper private banks may not be effective as they can cut on some expenses and not provide a well-insulated box or transport for the stem cells. The bank may spend less on marketing and share the savings with the customers. For this reason, you can say price is a determining factor.
Storing your baby’s cord for free
If one of your family member qualifies for a medical condition, they may go for therapy with the baby’s stem cells. Your finances does not necessarily have an effect on the eligibility of this program. a couple of family cord blood banks have their own charity programs that give free cord blood storage for a family member- either a baby or the parent.
Charges for family cord blood banking
The first year processing fee for private cord blood banks range between $1000 and $3000. Other annual storage fees range from $90 to $180. Financial institutions now offer plans: there are no- interest payment plans and long-term financing that attracts interest. In addition, banks can provide an all-inclusive amount for 20 years storage. This is much cheaper in the end as compared to the conventional price model of annual charges.