There are many things to take into consideration when choosing a place to bank your baby’s umbilical cord blood. While the reality of cost and logistics must be taken into consideration, they should not ultimately drive your decisions. Your cord blood banking decisions should be driven by what’s best for you and your family.
Accreditation by the American Association of Blood Banks, is the first criteria you should insist upon when evaluating possible cord bank facilities. The Seal of Approval from the AABB means that the bank has set, and maintains a high level of quality in the collection, storage and preservation of your cord blood.
This accreditation is voluntary, and companies must approach the AABB to be considered for the seal. The company must then submit to inspection of their facility and procedures. Committing to the accreditation process speaks to the professionalism and commitment of the companies that submit to the rigorous endorsement process.
Prices for first year banking fees vary from a low of about $900 to well over $2,000. With such a wider range of prices you may wonder if the banks on the higher end of the spectrum are overcharging for their services.
But what are you actually paying for? Your fees go to pay the salaries of the staff as well as laboratory fees, and the cost of processing your baby’s umbilical cord blood. Additionally, the process of accreditation is a costly one for banks to undertake and this adds to the price for many banks.
Check the reputation of the bank. Be sure that it has been around for a period of time that you are comfortable and you can always check the AABB and the Better Business Bureau to determine that there are no outstanding complaints against the bank.
A few additional factors that you may want to consider are:
- Does the facility provide a kit with instructions for your doctor or birthing specialist?
- Does the facility provide 24 hour emergency contact information?
- Is a medical courier used to transport the cord blood?
- Does the company notify you upon receipt of your cord blood?
- Do they notify you of the results of any tests performed on the cord or maternal blood?
- Does the facility keep a small portion of the blood segmented for future testing purposes, in order to keep from having to defrost all of the blood should future testing become necessary?
