Americord Registry Announces New Reimbursement Policy
NEW YORK, July 15, 2015 /PRNewswire/ — Americord Registry, a private cord blood, cord tissue, and placenta tissue banking company, announced today that it is introducing a new policy for client reimbursement. Starting immediately, Americord will offer full reimbursements for cancellation fees that are often incurred by parents who sign up with other cord blood banks.
“There is an existing practice throughout the cord blood banking industry that penalizes parents for changing their minds,” said Americord CEO Martin Smithmyer. “Americord has never implemented cancellation fees, but we don’t think parents should have to pay those fees to other cord blood banks either.”
Cord blood banks like Cord Blood Registry, Viacord, and Stemcyte charge cancellation fees if parents choose not to banks their baby’s stem cells privately or if they choose to go with another bank. These fees deter parents from obtaining their stem cell collection kits well in advance of the baby’s due date, and lock them into the first cord blood banking service that they enroll with. Going forward, parents who are currently enrolled with another cord blood bank and decide to store their stem cells with Americord will receive compensation for cancellation fees associated with their previous bank.
“We hope that this policy will give parents the freedom to do their research without fear of penalty,” said Smithmyer. “Cord blood banking is a big decision, and expecting parents should always have the flexibility to change their minds.”
About Americord Registry
Americord Registry is a leader in the advancement of umbilical cord blood, cord tissue and placenta tissue banking. Americord collects, processes, and stores newborn stem cells from umbilical cord blood for future medical or therapeutic use, including the treatment of more than 80 blood diseases such as sickle cell anemia and leukemia. Founded in 2008, Americord is registered with the FDA and operates in all 50 states. The company’s laboratory is CLIA Certified, accredited by the AABB and complies with all federal and state guidelines and applicable licenses. Americord is headquartered in New York, NY. You may visit Americord Registry’s website athttp://www.americordblood.com for more information.