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The value versus cost of cord blood banking

 

The perceived cost of storing your baby’s cord blood or cord tissue with a family cord blood bank should not be a deterrent. Not only does the long-term value of storage outweigh the absolute cost, but the flexible payment plans available also reduce the financial impact on you and make cord blood banking a fairly affordable option.

 

The growing awareness about the benefits of cord blood banking and cord components’ stem cell treatments is resulting in an increasing number of would-be parents wanting to know more about this important healthcare service.  As is to be expected, one of the factors that impacts their decision to opt to store their baby’s cord blood or cord tissue is the cost of the service and the resultant financial implications on the family.

Our suggestion to expectant parents is to not consider the cost only in absolute terms- which is also quite inexpensive when one takes a long-term view, as we will show later in this article. More importantly, consider both the value of cord blood banking as well as the cost of not doing so.  Let us delve a bit deeper into these.

The costs of cord blood storage in Singapore

The reality is that the absolute cost of storing a baby’s cord blood with any family cord blood bank in Singapore is likely to run into a few thousand dollars. However, before this pricing turns you away, there are quite a few factors that you should take into account, especially if you are considering Cryoviva as your cord blood bank.

  1. The cost is spread over more than 2 decades: Yes! Our typical service agreement is for storage for 21 years, with some conditional provisions for additional storage.
  2. Effective cost amounts to a few cents a day: Unbelievable but true! 21 years equates to over 7,000 days and our storage plan for that duration costs much lower than S$6,000 (please contact us to discuss exact pricing plans).  That is why it is important to consider ‘amortizing’ the cost over the duration of the storage agreement to get a truer picture of the cost of cord blood storage.
  3. Availability of flexible payment options: Isn’t it wonderful to know that one does not have to shell out the cost in one go thanks to flexible credit card installment plans we offer? What’s more, one can also tap into the Singapore government-supported Child Development Account to pay for cord blood banking service. These provisions are bound to significantly lower the financial burden on any family opting for cord blood banking.

Value of cord blood storage is realized when need arises

In many ways, an ‘investment’ in storing a baby’s cord blood with a family cord blood bank is akin to one taking out most forms of insurance. Of course, let us state very clearly that it is not the same as (or a replacement for) a health insurance policy.

We draw this analogy only to highlight that the key premise behind both, an insurance policy and storing cord blood, is very similar: the need to be prepared for eventualities that may or may not occur, while recognizing that the lack of preparation can be extremely costly in monetary and non-monetary terms.  

For one, stem cells from your baby’s stored cord blood or cord tissue have the potential to save a life (the baby’s or a close family member’s), the value of which is impossible to determine.

Moreover, there are a growing number of ailments for which stem cells from umbilical cord components are being used for treatment. Not having stored stem cells deprive one of the opportunity to use these in the unfortunate event that these become necessary and having to turn to other forms of treatment that could be both cumbersome and more expensive.

Don’t let cost of cord blood banking deter you

In conclusion, we would like to reiterate that the cost of storing your baby’s cord blood may not be as high as you think it is. Most parents invest significantly higher amounts in putting their children through a range of enrichment activities.

In comparison, wouldn’t you agree that the preparation for long-term health eventualities is a small price to pay?

Interested in reading more pregnancy and maternity tips?

You will find a collection of articles here on pregnancy diet and nutrition, exercise & fitness during and post pregnancy, emotional wellness and more. Check out a few from the list below:

  1. Nursing A Fever During Your Pregnancy?
  2. How to Juggle Work and Your Newborn?
  3. Stepping Up Support During Your Pregnancy
  4. How to plan and prepare for second pregnancy?

Interested in finding out more about cord blood banking in Singapore? Contact us now through the form on this page or WhatsApp us on +65- 83398482 and let our customer service consultants address your queries. 

More articles on Pregnancy & Maternity Tips:

  1. Balanced pregnancy diet: nutrition is the key
  2. Pre-natal exercises to reduce stress and lower back pain
  3. The hope and scope of cord blood banking
  4. Second trimester of pregnancy: do’s and don’ts

 

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