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christopherb616

christopherb616   , 32

from New York

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What You Need to Know About Private Blood Banking

For a reasonable fee, a private cord blood bank can extract your umbilical cord, process it, and safe keep it for future use through freezing. Private cord blood banking is known as family banking cord blood. This is an ideal way to keep your newborn cord blood for use in the future. Private cord blood banking is not the same as public blood banking, where blood is kept for used by the public.

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  1. Cost of private banking

The first year processing fee for private cord blood banks range between $1000 and $3000. There are other annual storage fees that range from $90 to $180. Financial institutions now offer plans: there are no- interest payment plans and long-term financing that attracts interest. Also, banks can provide an all-inclusive amount for 20 years storage. This is way cheaper in the long run as compared to the conventional price model of annual charges.

  1. Service that is worth your money

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.

  1. Storing umbilical cord blood

If one of your family members qualifies for a medical condition, they may go for therapy with the baby’s stem cells. Your finances don’t 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.