Understanding the Value: Why Affordable Cord Blood Banking is Worth the Investment
Cord blood banking is crucial for expecting parents to ensure their child’s health and well-being.
It involves collecting millions of stem cells from umbilical cord blood, which can be a lifeline for people with certain disorders like leukemia.
Moreover, the U.S. government initiated a federal cord blood program in 2005 to create a nationwide inventory of high-quality and genetically diverse cord blood units.
Also, the decreasing proportion of cord blood stem cell transplants is causing challenges for 19 nonprofit public banks. Consequently, after 15 years of supporting the national cord blood system, the U.S. Department of Health and Human Services asked the RAND Corporation to evaluate its economics and sustainability.
Therefore, researchers analyzed the developments impacting public cord blood banks. They then studied methods to improve banks’ financial stability. They found the system valuable to society and worthy of public investment.
The Critical Need For Cord Blood
Stem cell treatment is a last resort for cancers and blood diseases like leukemia, severe aplastic anemia, and sickle cell disease.
Since they are less developed than adult stem cells, cord blood stem cells are more flexible and can differentiate into various cell types.
This means they are more relaxed about donor-recipient matching and are less likely to be rejected. Cord blood collection is quick and painless, taking minutes. However, it has its disadvantages.
The blood volume is smaller than that of adult donors’ bone marrow or peripheral blood, and the number of stem cells takes longer to establish. This could result in a longer hospital recovery time and a greater chance of infection.
Cost Considerations Of Cord Blood Banking
When deciding between private and public cord blood banking, there are important factors to consider.
Private cord blood banking provides control over one’s biological resources, but it can be expensive initially.
On the other hand, public cord blood banking is a more affordable option for those who want to contribute to a larger community resource.
Keep in mind that if you need cord blood stem cells for therapy in the future, the cost of releasing stem cells for transplant can be $30,000 or more.
Understanding the differences between these two types of banks is important for making an informed decision that aligns with your family’s values and financial situation.
Storage Considerations Of Cord Blood Banking
Private stem cell banks provide a range of storage durations, from annual to lifetime plans, each with benefits to suit different family preferences and budget considerations.
Annual plans offer flexibility for periodic reassessment and can be cost-effective in the short term, but cumulative costs over the years must be considered.
Some banks offer from 18 up to 20 years storage plans that cover a child’s life from adulthood to education completion, offering affordability and extended protection.
Lifetime storage plans ensure stored cord blood remains available for the child’s entire life, eliminating the need for annual or periodic renewals. They offer a balance between affordability and extended protection, saving money in the long run.
Financing Options For Parents
The cost of cord blood banking can vary among private banks, with an average processing fee of $1,500 to $3,000 covering the collection and processing of cord blood.
If you store stem cells annually, the cost can range from $150 to $300 per year.
You have multiple payment options, including one-time payments, monthly installments, and financing options partnered with financing companies.
Some banks may offer extended payment plans for families who prefer a longer-term solution.
It’s important to consider insurance coverage and consult your insurance provider to explore potential coverage options that best fit your family’s financial needs.
National Inventory & Usable Inventory For Cord Blood
The NCBI program is a government initiative that partners with public banks to provide cord blood units to the national inventory.
Public banks receive subsidies for storing and registering cord blood units via the Be The Match® Registry, operated by the National Marrow Donor Program.
The program aims to make high-quality cord blood units readily available to anyone who needs a stem cell transplant.
With over 200,000 units currently stored, the program’s 15-year goal has been surpassed. Additionally, the program emphasizes the importance of increasing genetic diversity, particularly among minority populations.
Demand For Cord Blood
The demand for cord blood stem cells is declining, as the number of transplants using cord blood decreased from 12% in 2010 to 8% in 2015.
In contrast, haploidentical transplants using stem cells from first-degree relatives almost tripled from 361 in 2010 to 1,045 in 2015.
Haploidentical transplants are becoming more popular due to innovative high doses of Cytoxan, which reduce rejection risk.
Cord blood demand is decreasing due to higher procurement and treatment costs, provider preferences, longer engraftment periods, and hospital stays.
Therefore, more investigation can help ascertain whether cord blood recipients maintain their health over time. Most literature only follows patients for a short follow-up period, potentially biasing results and suggesting more favorable outcomes for other stem cell sources.
