Private cord blood banks are locations that will store your child’s umbilical cord blood for a fee. Many parents today want to store umbilical cord blood because it contains stem cells that can treat their child’s potential health condition such as lymphoma and leukemia. Cord blood banks will store cord blood in a safe and regulated environment, so the blood may be used in case of medical neccesity.
Parents basically have two options when they want to bank their child’s cord blood. They can either choose private for-profit cord blood banks or public cord blood banks. Nearly every parent can donate their child’s cord blood to a public bank. These organizations are similar to blood donor banks, where the end user of the blood is not the donor. The ultimate goal is to encourage enough parents to use the facilities that everyone who needs cord blood in the future can find a match.
The problem with this option is that a lot of parents have to choose to use the public cord blood banks. That should sound easy enough since it doesn’t harm the baby in any way to donate cord blood. Many parents, however, fear that they need personal insurance that will protect their specific child from potential disease in the future. This fear encourages them to use private cord blood banks, which reduces the amount of cord blood available through public banks.
Private Cord Blood Banks
Private cord blood banks have their own downsides. While some people find that they are affordable, many new parents feel that they simply cannot afford to pay for-profit cord blood banks that charge monthly storage fees. The price quickly adds up. By the time your child enters college, you will probably wish that you had the money back for tuition.
Parents who can afford private cord blood banks see this option as a type of insurance against disease. The truth, though, is that very few children actually need the cord blood. It is easy to say that parents should pay for private cord blood banks to ensure that their children have access to cord blood if they need it. It begins to get much harder, though, when you look at the details of a family’s budget.
In reality, very few families will feel that they spent their money wisely by storing cord blood at private banks. Of course, every penny will feel like money well spent if their children get sick.
Choosing Public or Private Cord Blood Banks
Parents who can afford private cord blood banks can choose to store their child’s cord blood at these facilities to ensure that their children are protected. Those who cannot afford the fees, or simply want to avoid them, can choose to donate cord blood to public banks.
Cord blood banks are gaining in popularity, so it seems likely that the number of private and public banks will grow in the upcoming years. Personally, I think it makes more sense for parents to use the public option. That way they support treatments that will benefit everyone’s children instead of just their own. This leads to a more stable supply for everyone. After all, what will a child do if a natural disaster ruins the cord blood held at a private facility? This type of system simply does not work well when each individual only tries to protect herself.
