Between 2016 and 2021, the cost of 20 years of private cord blood banking in the US has increased by approximately 24%!
Yes! You have read it right! Everything is responsible for this price rise from COVID-19 to inflation in the economy. However, we expect the treatment sectors to be affordable as they are about human health, which is an emergency.
However, the average price of cord blood banking rose from $3471 to $4312!
It is essential to note that this increase is higher than the 14% inflation rate for consumer goods during the same period. At the same time, most family cord blood banks have lowered their initial fees but increased their annual storage fees in return. So as a result we are experiencing a gradual increase in price.
Here, we will focus on the particular aspects of cord blood banking that may help families find a suitable cord blood bank at an affordable price. Well, there is no prominent cord blood bank available in our society that may provide you with an overall low-cost solution. It may depend on your particular needs for features.
So, it’s better to understand the various packages and features available so that people can afford cord blood solutions or check if your health insurance may offer cord blood banking coverage.
Price Comparison Of Features
When it comes to cord blood banking, there are several features that families should consider before choosing a suitable cord blood bank. Here, we will focus on some particular features that are important, and depending on those features, prices may vary in cord blood banks.
Guarantee Of Viability
Some cord blood banks offer a guarantee that the stem cells they store will remain viable for a certain period of time. For instance, HealthBanks offers a guarantee that the stem cells will remain viable for up to 20 years, or they will provide a free replacement for the client.
Zero Hidden Fees
Families should ensure that the cord blood bank they choose has no hidden fees or charges. AlphaCord, for example, offers a transparent pricing policy with no hidden fees.
Fda-Approved Sterile, C-Section Collection System
It is important to choose a cord blood bank that uses an FDA-approved sterile C-section collection system to ensure the safety and quality of the stem cells. Alphacord uses an FDA-approved sterile C-section collection system.
Fda Registered / Aabb Accredited
Cord blood banks that are FDA-registered and AABB-accredited are held to the highest quality and safety standards. AlphaCord is an FDA-registered and AABB-accredited cord blood bank.
Considering these features will help families make an informed decision and choose a suitable cord blood bank at an affordable price.
Price Comparison Of Packages
Cord blood banks offer various packages with different features depending on the family’s needs. Here, we will compare the prices of different cord blood bank packages to help families make informed decisions.
Cord Blood Only Package
This package includes the storage of cord blood only. It is the most affordable package and is suitable for families who only want to store cord blood. The average cost of this package is between $1,000 and $2,000 though some cord blood banks such as AlphaCord and Viacord do offer even more affordable options.
Cord Blood & Cord Tissue Package
This package includes the storage of both cord blood and cord tissue. Cord tissue contains mesenchymal stem cells, which can be used to treat various diseases. This package is more expensive than the cord blood-only package, with an average cost of between $2,000 and $3,000.
Cord Blood, Cord Tissue & Placenta Package
This package includes the storage of cord blood, cord tissue, and placenta. The placenta contains a significant number of stem cells, which can be used for various treatments. This package is the most expensive, with an average cost of between $3,000 and $4,500.
It’s important to note that these prices may vary depending on the cord blood bank and the features included in each package. Families should also consider the annual storage fees, which can range from $100 to $300 per year.
Which Cord Blood Bank Should You Go For?
There is a huge difference between private and public cord blood banks. While private banks work as investments, public cord blood banks work as charities. So, public cord blood banks generally do not cost anything.
On the other hand, private cord blood banks are efficient in storing cord blood for personal use. So, there is a guarantee that you will get it back when needed after 15 years.
Now, it’s your turn to go for the particular one after analyzing the market price right at this moment.