After making up your mind about collecting and storing your child’s cord blood in a cord blood bank, your thought would be, “which type of cord blood bank to go for?” This is another crucial process, deciding between public vs private cord blood banking and which is better suited for you.
Cord blood banks are of two major types: private and public cord blood banks, and your choice will be primarily affected by the underlying reasons your child’s cord blood wants to be collected and stored.
In this post, you’ll explore all relevant points to bear in mind, and this will, in turn, act as a compass in guiding you towards the best cord blood bank suitable for the collection and storage of your child’s cord blood.
What To Expect From Private And Public Blood Banking
Having a keen knowledge of which blood bank to opt for while saving your child’s cord blood is of utmost importance. They both run on the same pretext and offers nearly the same kind of services. It’s a new idea and may appear strange if you haven’t heard of it, but don’t be troubled because you’re in the exact place to get more knowledge on this wonderful innovation.
Differences Between Public And Private Cord Blood Banks
1. Private Cord Blood Bank
Private blood banks tend to deal with helping parents save their baby’s cord blood to help treat life-threatening ailments within the family. However, the services rendered by this kind of cord blood bank are expensive as they come with personalized packages.
Also, cord blood held in a private cord blood bank belongs to the donating family and can be taken out by them in the case of a transplant for any member of the family.
2. Public Cord Blood Banks
Public cord blood banks are open to the public and operate like any other public institution regarding how they render their services. They collect and store cord blood and make them available to the general public and come at little or no fee at all.
How Much Does My Choice Of Cord Blood Bank Cost Me?
· Private blood bank
Private cord blood banks are expensive compared to public ones, and this is because you have the rites to the stem cells collected and can get immediate access to them if any member of the family needs a stem cell transplant. The collection and storage fee costs around $1200-2500 and attracts annual storage fees of about $100-350.
Also, since this kind of blood bank is privately run, you have to ensure that the blood bank to be used is suitable and meets all standards required for proper cord blood collection and storage.
· Public blood bank
In contrast to private ones, public blood banks render their services to the donors for nothing, as the bank holds responsibility for all expenses during the collection and storage process.
Nevertheless, public banks aren’t responsible for any fees associated with transporting the stored cord blood to a medical facility if a transplant is needed.
What Do You Stand to Gain from Cord Blood Banking
· Private blood bank
With the excellent packages offered by private blood banks, you’re bound to gain more. Your child’s cord blood can do a lot in the long run, as long as necessary procedures were followed while collecting and storing the cord blood.
After completing the procedures, the stored cord blood can be later used in treating a host of diseases in any member of the depositing family in the nearest future—this benefit aids in reducing the stress coupled with eligibility and compatibility.
· Public blood bank
The nature of public cord blood banks makes cord blood collection and storage quite inexpensive because the bank bears the cost for cord collection and storage.
Also, since the cord blood deposited at the bank doesn’t belong to you, the likely chances of using the same stem cells in your child’s treatment are minimal.
Stem Cells Purposes
· Private blood banks
The stem cells held with a private cord blood bank can be utilized, ensuring the quick and easy treatment of devastating diseases in the family. This, in turn, ensures your family’s safety—think of it as family insurance!
· Public blood banks
Stem cells stored in public cord blood banks are mainly used to treat anyone from the public. Also, sometimes the donated cord blood may not meet standard requirements but can be used in conducting research. Parents will often donate umbilical cord blood as a service to others in need of life saving stem cells.
Laws Guiding Collection and Storage of Cord Blood
Most US states have legislation in line with the institute of medicine guidelines, which helps monitor all activities on cord blood banking. These legislations encourage physicians and medical personnel involved in cord blood banking to educate all expectant parents on all types of cord blood banking.
For many expectant parents, the news that cord blood cells can treat a host of diseases is a piece of joyous news. This procedure helps keep their minds at rest in case of any health-related complications in the family.
From here you may like to look comparing cord blood bank services and find a cord blood bank near you. They will have information packages and cord blood donating kits that you can request.
