5 Tips for Selecting a Cord Blood Bank

Christina Park 2017-02-01 10:00:00

If you haven't heard of it then it is time to learn. One of the biggest trends in healthcare around the world today is cord blood banking, and it is becoming a major development worldwide.

Due to the adaptability of stem cells found inside umbilical cord blood and the advancements made in medical science, hospitals can utilize the body's own cells for treatment. This is an impressive advancement made in science, and something that every family should consider.

Because it has been a popular decision to make, the formations of cord blood banks have become ubiquitous. All across Canada, there are cord blood banks that you can take advantage of, whether it is to store your child's cord blood or to donate your newborn's cord blood.

This is a major decision that every couple should make. Therefore, they must take the time to learn all they can about cord blood, including how to choose a cord blood bank in their city.

Here are five tips for selecting a cord blood bank:

Make a List of Cord Blood Banks in Your Region

Once you and your partner have decided to move forward with cord blood banking, you have to look around for cord blood banks in your city or region. Once you have come across as many cord blood banks as possible you should make a list of these institutions. You may want to add Cells for Life to your list of cord blook banks near Calgary.

Using the measures below, you should then highlight the ones you are interested in using or eliminate the banks that do not meet your necessary requirements or just aren't in your area.

Learn About Industry Regulations & Standards

The entire cord blood industry is thoroughly regulated by federal and provincial standards. In fact, south of the border in the United States and in Europe the industry is regulated and they are mandated to comply with a series of standards established by governments and bureaucrats.

Prior to speaking with a bank official, you should learn about these regulations and standards. After you have comprehended the very basics, you must then inquire with the organizations to determine if they abide by these rules. This is thorough research that every parent should do.

Be Fastidious During the Process

Since you are permitting experts to extract cord blood from your baby and you are likely paying fees for future use, you and your other expected parent should be fastidious throughout the entire process. Everything from asking about clinical trials to attempting to understand transplant medicine, you must engage, be selective and remain interested.

There is nothing wrong with communicating with your doctor, the officials or your family.

Know Your Options in Cord Blood Banking

Knowing your options ahead of time requires more than just knowing which bank you're going to patronize. Understanding your options means understanding how much you are going to pay every month or year, how the cord blood is going to be used if you're donating it to another person and what will happen exactly if the facility goes out of business.

Cord Blood Banking is Tax Deductible

Finally, and this is important to know as it could sway your final decision in the end, cord blood banking is tax deductible. This means that the next time you file your taxes you can place cord blood banking as a medical expense and help lower your taxes, though it won't be by much.

Taking advantage of the stem cells found in umbilical cord blood is one of the greatest advancements made in all of medical science. Many health experts and industry leaders are optimistic that these stem cells could help cure a lot of diseases that are still lingering around. Visit Income Tax Act to learn more about the cord blood tax credit.

You are doing a great service in either donating this blood or storing it in a bank. You just have to know what you are getting yourself in for and what exactly needs to be done.

Back to list