So if you have decided to bank your child’s blood, or even if you are still on the fence – you will want to research some cord blood banks. There are a few easy ways to do this. Search out and contact the leading cord blood banks.
When you visit the website of a cord blood bank, be sure to research the following areas:
1. Price – Price levels differ dramatically
2. Service levels
3. Ensure that the banks are accredited by the American Association of Blood Banks (AABB)
4. The Financial status of the cord bank – One often overlooked issue is that you are counting on this cord blood bank to be in business for 21 years. Unlike the bank you deposit your paycheck, cord banks are not insured or regulated by the government. If a cord bank loses its financial footing, the cord blood that you paid for may go to waste.
Once you have checked out several sites and narrowed the choice down to 2-3 cord blood banks call them up and research the following areas before making a final selection:
1. Ask the cord bank some hard questions about their service levels and policies. See the Cord Blood Donor Website for a list of questions to ask a Cord Blood Bank. For those of you who really want to grill the cord blood bank before making a selection, see this list of detailed questions from the Parent’s Guide to Cord Blood Banks.
2. If you are the bargaining type, you might want to negotiate price. I’ve heard many stories of people getting $100 off and some stories of people getting even more.
3. Be sure to ship the specimen by “medical courier” not FedEx or other standard overnight shipping companies. Most standard overnight companies cannot regulate temperature and therefore risk destroying the stem cells you paid so much to save.
4. Most importantly, before you sign up make sure you read the fine print on the contract closely!
After researching and picking a winning cord bank, share your experience with us, so future readers can learn from you!