Financial Press Considers Cord Blood Banking as a Consumer Issue

Smartmoney.com has presented a look at umbilical cord blood and cord blood banking that includes an examination of both the medical benefits of cord blood and the financial costs of banking.

The article overviews the cord blood banking process by stating:

" Stem cells from umbilical cord blood can be used to treat a variety of childhood — and in some cases, adult — illnesses, ranging from certain types of cancer to rare blood disorders. The most common uses for banked stems cells are in treatments for leukemia and other blood cancers and sickle cell anemia. In most cases, the stem cells are used on a sick sibling, but in rare instances the stem cells can be used on the donor patient. And unlike fetal stem cells, there's nothing controversial about saving cord blood, since the child isn't affected."

However, Smartmoney.com also considers the financial aspect of banking cord blood.

An excerpt:

" Private cord-blood banking is expensive. It usually costs about $1,500 to $2,000 upfront to save the blood, and $100 or more a year to store it."

The article is also critical of potentially over-the-top sales and marketing efforts on the part of the cord blood banking industry. It's an interesting read and is recommended.

You can read the whole article about the cost of cord blood banking and other issues by clicking here.