This is a huge step forward, and one that many people thought would never happen in the UK. A lot of people have put a lot of work into making this happen - don't underestimate the challenges involved!
It's good for fighters, and will help the reputation of the sport as a whole.
As for costs - Safe MMA is non-profit, and accounts will be published and available to the public. Before my last fight, I paid £123 for blood tests (lab fee only) that were valid for 6 months. So it sounds pretty reasonable to me.