Cord blood banking cost
A common question is how much does cord blood banking cost. Cord blood banking cost range from relatively inexpensive to a modest price range. There are five costs usually involved when purchasing cord blood banking. There is an initial, first year fee. Then there is a yearly storage fee. Next, at some cord blood banks, there is a courier fee to move the cord blood from the hospital to the lab. You will also incur a fee from your doctor to collect the cord blood. Finally, the hospital may charge an additional fee for use of its facility and staff in collecting the cord blood.
The cost of cord blood banking starts around $900 dollars and goes up around $2300 for the first year’s fee. This cost should include the FDA approved sterile collection kit and the service of processing and storing the blood for the first year.
The next cost is a yearly fee charge by the cord blood bank to store the cord blood. This fee ranges from free to about $130. Usually you will pay a higher first year fee to get a lower yearly fee, but this is not always the case and you will want to look into this to be sure.
Some cord blood banks add an additional cost by charging a courier fee to move the cord blood from the hospital to the lab. Not all cord blood banks charge this fee. The cost runs around $150. It is a one time cost to you.
Another cost you are likely to see is the fee your doctor will charge to process the cord blood. Usually the cord and placenta are sent to the lab to evaluate that they have been discharged completely. Because your doctor will have to be involved prior to the delivery to coordinate the cord blood procedure and will have to do extra work in processing the cord blood, the doctor may charge an addition fee which will probably cost you. Speak to your doctor early if you are considering banking your baby’s cord blood, even if you have not made up your mind. He will be able to give you some guidance on the subject. He will also be able to tell you if he has done the procedure before and if there are any addition cost from his office.
The final cost that you will want to access is the hospital’s fee for the use of their facility to process the cord blood. Extra steps will have to be taken by the hospital staff to assist the doctor in extracting the cord blood. This will cause the hospital to incur additional cost and they will more than likely pass it on to you. Check with your local hospitals to see how much the cost ranges.
For all of the lab fees, many of the labs offer financing. The terms range from 6 months to 48 months. Some have no interest at all, others have up to 12 months interest free, and some just have regular interest financing.
In a final note, if you decide to donate your cord blood to a public cord blood bank, there is usually no monetary cost to you. You may want to check out our cord blood banking pros and cons page to help you decide what is the best route for you to take. We also have a good post on cord blood uses and applications.