If you are in the third trimester of your pregnancy and are getting closer to the pregnancy due date, one of the most important decisions that you have to make before the birth of the baby is regarding cord blood, such as whether you should preserve it and whether you can practically afford the high cost associated with the same.
What Is Cord Blood? Highly rich in stem cells, cord blood refers to the blood that remains in the placenta and umbilical cord just after delivery.
Preserving this blood can be very useful not only for the baby, but also for her siblings and other members of the family, especially when it comes to the treatment of certain medical conditions and diseases, such as diabetes, Parkinson's, multiple sclerosis and leukemia.
The Procedure When it comes to collecting cord blood, a lot of precautions are needed.
The blood must be collected within ten to fifteen minutes after delivery.
Besides that, the entire process of preserving it must be completed within just thirty to forty-five minutes.
Considering the level of expertise needed for the entire process, you usually have to hire the services of private cord blood storage facilities.
Their experts handle the entire process with great care, but they charge a whopping amount of money.
Annual Storage Fee Vs One-Time Fee Most private cord blood banking facilities usually charge a one-time fee and then a fixed amount of money as annual fee.
The annual fee system works very much like the fee you pay every year on your bank's deposit locker.
Depending upon the cord blood storage facility you have chosen, you should expect to pay anywhere between $90 and $120 per year.
But, before that, you will also have to pay a certain amount of money in the very beginning to cover the cost of collection and processing; this is a one-time fee, which can cost you up to $2000 (the starting range is usually $600).
You are strongly recommended to do your math thoroughly.
For example, if the one-time payment costs you $1500, the annual fee is $100 and you are using the service for twenty years, it will cost you $3500 in total.
Now, it is up to you to decide whether such a high amount of investment is worth it.
How To Decide If You Can Afford It? Storing cord blood can turn out to be a life saver for you and for the immediate members of your family just in case you ever need it.
It gives you a sense of medical security against severe diseases, such as Parkinson's that are otherwise not easily curable.
But, at the same time, considering the high cost involved with the process, it is obvious to feel reluctant whether you should or shouldn't go for this.
The high amount of one-time fee that can cost you around $1500 initially often proves to be the most daunting one.
The annual fee, on the other hand, is easily affordable because you have to pay a reasonable amount of money every year instead of a big one-time payment.
Still, the overall cost over the entire course of storage (which is usually around twenty years) must also be kept in mind.
Plan In Advance Considering the high cost of cord blood banking, you are strongly recommended to start working on your budget much in advance.
You need a well-thought-out plan to handle this fairly expensive proposition.
The most important thing that you have to keep in mind in this regard is that there are plenty of other substantial expenses as well that you have to deal with at the time of delivery, such as nursery and baby products, hospital bills and the cost of medicines.
Unless you have a well-planned budget ready to cover all the costs, it will be extremely difficult for you to manage all these expenses in the rush hour.
You should probably start saving money even before you plan your pregnancy.
If you have not done that, you should start saving now.
These days, many cord blood banks also offer low-rate financing options to make the high amount of one-time initial fee affordable for the consumers; you may like to take advantage of the same.
But, early planning is still crucial.
So, How To Decide If The Cost Is Worth It? The answer to the big question whether storing cord blood makes the right choice for you or not depends entirely on the specific factors that you base your decision on.
There are certain key points that you must consider in this regard.
The Odds of Using The Stem Cells As per the research and studies conducted in this field, the probability that the baby or a member of your family will ever use the stem cells or the cord blood thus preserved is only one in 2700 to 1400.
The Odds Of Finding A Match When You Have Not Stored Cord Blood If you cannot afford the cost and decide against banking cord blood, you can still find the right match through several non-profit or public cord blood storage systems.
According to research and studies, the odds of finding the right match in such cases is 75 in 100, which is fairly high.
Treatment Of Adults Weighing Over 100 Pounds It is also important for you to keep in mind that the quantity of stem cells found in cord blood is not always sufficient to treat adults who weigh over 100 pounds.
For The Treatment Of Diseases That Are Genetic In Nature Last, but not the least, you are also strongly recommended to take your family's medical history into account.
It is important to note that the stem cells available in cord blood may not be very useful for the treatment of the diseases that are genetic in nature.
In case, you decide to bank your baby's cord blood, you must start planning ahead of time.
It is not just about budgeting; you also need time to do a thorough research and find a cord blood banking company that is renowned for offering quality services at a reasonable cost.
What Is Cord Blood? Highly rich in stem cells, cord blood refers to the blood that remains in the placenta and umbilical cord just after delivery.
Preserving this blood can be very useful not only for the baby, but also for her siblings and other members of the family, especially when it comes to the treatment of certain medical conditions and diseases, such as diabetes, Parkinson's, multiple sclerosis and leukemia.
The Procedure When it comes to collecting cord blood, a lot of precautions are needed.
The blood must be collected within ten to fifteen minutes after delivery.
Besides that, the entire process of preserving it must be completed within just thirty to forty-five minutes.
Considering the level of expertise needed for the entire process, you usually have to hire the services of private cord blood storage facilities.
Their experts handle the entire process with great care, but they charge a whopping amount of money.
Annual Storage Fee Vs One-Time Fee Most private cord blood banking facilities usually charge a one-time fee and then a fixed amount of money as annual fee.
The annual fee system works very much like the fee you pay every year on your bank's deposit locker.
Depending upon the cord blood storage facility you have chosen, you should expect to pay anywhere between $90 and $120 per year.
But, before that, you will also have to pay a certain amount of money in the very beginning to cover the cost of collection and processing; this is a one-time fee, which can cost you up to $2000 (the starting range is usually $600).
You are strongly recommended to do your math thoroughly.
For example, if the one-time payment costs you $1500, the annual fee is $100 and you are using the service for twenty years, it will cost you $3500 in total.
Now, it is up to you to decide whether such a high amount of investment is worth it.
How To Decide If You Can Afford It? Storing cord blood can turn out to be a life saver for you and for the immediate members of your family just in case you ever need it.
It gives you a sense of medical security against severe diseases, such as Parkinson's that are otherwise not easily curable.
But, at the same time, considering the high cost involved with the process, it is obvious to feel reluctant whether you should or shouldn't go for this.
The high amount of one-time fee that can cost you around $1500 initially often proves to be the most daunting one.
The annual fee, on the other hand, is easily affordable because you have to pay a reasonable amount of money every year instead of a big one-time payment.
Still, the overall cost over the entire course of storage (which is usually around twenty years) must also be kept in mind.
Plan In Advance Considering the high cost of cord blood banking, you are strongly recommended to start working on your budget much in advance.
You need a well-thought-out plan to handle this fairly expensive proposition.
The most important thing that you have to keep in mind in this regard is that there are plenty of other substantial expenses as well that you have to deal with at the time of delivery, such as nursery and baby products, hospital bills and the cost of medicines.
Unless you have a well-planned budget ready to cover all the costs, it will be extremely difficult for you to manage all these expenses in the rush hour.
You should probably start saving money even before you plan your pregnancy.
If you have not done that, you should start saving now.
These days, many cord blood banks also offer low-rate financing options to make the high amount of one-time initial fee affordable for the consumers; you may like to take advantage of the same.
But, early planning is still crucial.
So, How To Decide If The Cost Is Worth It? The answer to the big question whether storing cord blood makes the right choice for you or not depends entirely on the specific factors that you base your decision on.
There are certain key points that you must consider in this regard.
The Odds of Using The Stem Cells As per the research and studies conducted in this field, the probability that the baby or a member of your family will ever use the stem cells or the cord blood thus preserved is only one in 2700 to 1400.
The Odds Of Finding A Match When You Have Not Stored Cord Blood If you cannot afford the cost and decide against banking cord blood, you can still find the right match through several non-profit or public cord blood storage systems.
According to research and studies, the odds of finding the right match in such cases is 75 in 100, which is fairly high.
Treatment Of Adults Weighing Over 100 Pounds It is also important for you to keep in mind that the quantity of stem cells found in cord blood is not always sufficient to treat adults who weigh over 100 pounds.
For The Treatment Of Diseases That Are Genetic In Nature Last, but not the least, you are also strongly recommended to take your family's medical history into account.
It is important to note that the stem cells available in cord blood may not be very useful for the treatment of the diseases that are genetic in nature.
In case, you decide to bank your baby's cord blood, you must start planning ahead of time.
It is not just about budgeting; you also need time to do a thorough research and find a cord blood banking company that is renowned for offering quality services at a reasonable cost.
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