The state of Illinois made it a law that all women be offered the opportunity to donate their baby's cord blood. I have collected quite a few since the first of the year. I have had a couple of women save their baby's blood for possible own use. The donation of cord blood in Illinois is FREE for the parents. If they want to save for own use, of course they must pay for that.
I think that cord blood/stem cell research is a wonderful thing. I think that many medical conditions will be cured or helped with stem cells.
There is quite a lengthy bit of paperwork to be filled out. If the Mom doesn't have it done ahead of time, it is almost impossible to do it during labor. It is also pretty restrictive as far as prior medical conditions and also tatoos or blood transfusions. We still offer it to all. I talk about it to all my patients during pregnancy. If they are interested, I give them the paperwork to fill out so we will have that done ahead of time.
Oh, yes, there are several different companies that offer cord blood banking, so the above may not apply to all.
I would do it if I were having babies now.