Choosing the Right Bank for You
If you’ve decided to use a cord blood bank, you now have many decisions to make. Which bank is the right one for you? How are you to decide where to store your child’s cord blood? There are a number of important factors to consider that will help you to decide upon the right company for your needs.
Proximity
After you’ve delivered your baby, your doctor will collect the cord blood. That blood then needs to be sent to your cord blood bank. Different cord blood banks have relationships with different hospitals and birthing centers. Therefore, you need to talk to each of the potential banks to find out where they have agreements. If you’ve already decided that you want to deliver at a particular hospital or birthing center, and you find out that two of the four companies you are interested in don’t do banking at those locations, then you will be able to narrow down your decision.
Finances
There is a large range in the prices that cord blood banks charge. Find out from each of the banks what their fees are, and make sure that you know about all of their fees. Most of the expenses occur during the first year and include a processing fee, a collection fee and an initial storage fee. Then, there is usually a yearly fee for continuing to store the cord blood. Make sure to inquire about what each place charges. Also, find out if these prices are fixed, or if they will increase over time.
Stability of the Bank
As with any business, some cord blood banks are more financially stable than others. Find out how long each bank has been in business and what their annual revenue is. The chances are that you’ll be less likely to have to transfer your cord blood with a more established institution.
It’s All In The Details
You have the right to ask many questions of each cord blood bank. In order to understand how they work, you should find out how many samples they process each year and how many they store. You’ll want to know how many people they have working for them to see how large an operation it is, and how professional they seem to be. Similarly, find out if you can retrieve your money, should you need to transfer the cord blood to a different bank. Find out exactly what their policy is in this situation, and how they process the transfer.
If you’ve decided to use a cord blood bank, then you want to make the right decision about which bank to use. Take the time to do the research and to feel comfortable with the choice that you make. This will help you to make the best decision possible for yourself and your family’s future.
