The blood left behind in the umbilical cord and the placenta after a baby is born has become increasingly valuable to new parents. This so-called cord blood is rich with hematopoietic stem cells, which can be used to treat certain cancers, blood conditions and genetic disorders. But what is the price of cord blood banking?

Parents who want to save their child’s cord blood have a couple of options: They can store the blood privately for the future use of their child, or they can donate it to a public bank where it could be used by anyone in need.

The main drawback of public cord blood banking is that you can’t guarantee there will be cord blood that matches your child should he or she ever need it. The plus is that it’s free and you support a positive institution that might help you or your child someday in the future.

Private banking, which has increased in popularity in recent years, ensures your child’s blood will be available to him or her in the future, or to another close relative. It also comes at a steep financial price, together with the knowledge that your child almost certainly won’t need to use his or her cord blood while someone else might.

The price of cord blood banking can run into the thousands; private cord blood banks usually charge a collection fee of $1,500 or more, an annual fee for storage, and as much as $25,000 if the blood is used for a cell transplant. The transplant costs, however, are typically covered by health insurance.

When factoring in the price of cord blood banking, it is important to remember that there is no guarantee your child’s hematopoietic stem cells will be able to treat him or her in the case of illness down the road. Many of the treatment possibilities opened by cord blood are still being researched.