Find the Best Cord Blood Banks in Richmond, VA

Private vs. public cord blood banking in Richmond

There are many factors for Richmond residents to consider when choosing whether public cord banking or private cord banking is right for them. Private and public cord blood banks both offer lifesaving stem cells for over 80 diseases for those in need.

• Private cord blood banking is offered as a service to families who want to store their child’s cord blood for future use. Companies cryogenically freeze and save the stem cells for future use in a medical procedure. Private cord blood banking is a good choice for families with a history of genetic disease that could be treated using cord blood cells.
• Public cord blood banking makes cord blood stem cells available for any person in need. Unlike with private banking, public cord blood banking has no cost for the donor. Also, not all hospitals will assist with public cord blood banking. Families without a history of medical conditions treatable by cord blood stem cells should consider donating to a public bank.

How much does cord blood banking cost in Richmond?

Private cord blood banking in Richmond costs $3,000 to $5,000 for 20 years of storage. The price of cord blood banking depends on the company, whether you are also banking cord tissue and the number of years of storage. Annual costs of storage are generally between $125 and $175. If you choose to pay year by year, expect an initial cost of $1,000 to $2,000, which may include the first year of storage.

Health insurance doesn’t usually cover cord blood banking, but some plans may have provisions for medical necessities. Contact your insurer for more information.

Pros and cons of cord blood banking in Richmond

Cord blood banking in Richmond has both pros and cons.

Pros:

• Cord blood stem cells can be used in transplants to treat leukemia, lymphoma, sickle cell disease and dozens of other serious medical conditions.
• You can store cord blood for years; some companies allow you to store it for a lifetime.
• Research continues into more uses for cord blood stem cells and applications of cord tissue and placental tissue stem cells.

Cons:

• Decisions regarding cord blood banking must be made before birth.
• Private cord blood banking is expensive; it costs $3,000 to $5,000 — sometimes more — for collection, processing and storage for 20 years.
• There’s a good chance you will never use your baby’s stored cord blood.

Richmond cord blood banking FAQ

Can parents use baby's cord blood?

Yes, it’s possible that parents can use their baby’s cord blood. Your physician can help you determine whether a family member is a candidate for a stem cell transplant using the baby’s cord blood.

Is cord blood banking covered by insurance?

In certain cases, health insurance providers may cover the cost of cord blood banking if it is a medical necessity. Speak with your insurer about your plan and whether it pays for cord blood banking in Richmond.

What are the benefits of cord blood banking?

Whether you bank cord blood for your family or donate for public use, you are preserving stem cells that can potentially be used in a lifesaving transplant. Hematopoietic stem cells found in cord blood can be frozen and safely stored for years.

What do hospitals do with umbilical cords?

Unless directed otherwise, hospitals discard the umbilical cord as medical waste.