As an expectant parent, you must have been introduced to the idea of private umbilical cord blood banking and all the possibilities it holds for your child and other family members. Cord blood banks have filtered through the science and healthcare industry to pass across the benefits of utilizing cord blood banks.
However, without ample information, most people may be misdirected on what these cord banks promise and may miss out on the supposed benefits. In cord blood banking, there are two types: private and the other public-run institution. With both types of cord blood banks offering several services, their aim is almost the same.
This article will dive into the world of private umbilical cord banking and what you can expect as a prospective user while also highlighting its merits and demerits.
What Is Private Umbilical Cord Blood Banking?
The private umbilical cord blood bank is a burgeoning industry that focuses on collecting and storing umbilical cord blood collected during childbirth, which can then be utilized for stem cell transplants.
This industry created enough awareness for the usefulness of stem cell collection at birth and the possible benefits open to the donor and family. However, the private umbilical cord blood banks are a profit-oriented industry.
Although the private cord blood banking industry is regulated by the agencies in charge, the science of stem cell collection is still at its early stages. Cord blood banking is an investment for the future for those who can afford to part ways with about $1500 to $2500.
How Does Private Cord Blood Banking Work?
The idea around the privatization of the Umbilical Cord blood banking is a novel idea that investors found as a measure to make a profit from a relatively unknown field of stem cell collection. This made the rounds and, over time, became a fairly competitive industry, as several brands tussle to outdo themselves in customer service.
The workings of the private umbilical cord blood banking are quite simple as they majorly focus on collecting and storing stem cells collected from the mother during childbirth.
Finding the Right Company For Your Cord Stem Cell Banking
The information available to the public concerning the benefits of private cord blood banking is primarily positive, and the populace is buying into it every day. This has made the development of this industry grow at a fast pace as we see more people investing in private cord blood banking.
In finding the right company to engage their services, you should do your research and look out for companies with experience in the field and positive reviews from their customer. Also, pricing may play a role as they differ by company. Contacting your gynecologist may also be a way to get professional information on the matter.
Also, ensure that the private umbilical cord bank you select follows all the stipulated guidelines for collecting and storing the stem cells. You can take a step further and request for a copy of the stem cell bank policies and procedures to keep yourself updated on the bank’s objectives.
It wouldn’t hurt to research more on the company to find out if it’s stable or on the verge of collapse. Private umbilical cord banks require you to pay an annual fee, which can all be for nothing if the company files for bankruptcy before using the stem cells.
What You Need to Know About Private Cord Blood Banking
Private cord blood banking is a relatively safe process if you want to give your child and family members a shot at a viable donor. Since most stem cells derived from cord blood would almost be a match with family members, the cost of finding a donor in case of future occurrence is eliminated.
The process is safe, personal, and the only drawback for some may be the funds required. However, initiating umbilical cord banking cannot be done on the spot or on the day of childbirth. Once you have found a suitable company to work with, all you need to do is follow the instructions laid down.
Cost of Private Umbilical Cord Blood Banking
Pricing is the primary reason people opt out of securing the services of private umbilical cord blood banks. However, for those who have decided to brave it all, the price range falls between $1500-$2500 with an annual fee of about $100- $300.
Does Insurance Pay for Private Umbilical Cord Blood Banking?
Some insurance companies can pay for your private umbilical cord blood banking if there is proof of a medical condition in the family that might require stem cell collection.
What Diseases Can Cord Blood Treat?
Based on the current research available, it has been stipulated that doctors can use the cord blood and stem cells for diseases such as leukemia, sickle cell, lymphomas, and other immune disorder. However, more research is being carried out, and over time other purposes would be unearthed.
Is Private Umbilical Cord Blood Banking Viable?
The viability of private umbilical cord blood banking would continue to remain relevant as long as research continues and people want to cater to the well-being of their loved ones. These measures were all put in place to allow for a better life for those who have these life-threatening diseases, and the possibility of a cure would make it viable in the long run.
What Are the Risks of Private Umbilical Cord Blood Banking?
Currently, there is no associated risk attached to the collection of stem cells during childbirth and the storage of this cord blood. The only issue concerning the process of cord blood banking is whether the umbilical cord should be clamped or left untouched.
The parents should thoroughly consider undertaking cord blood banking before making a choice. An important factor that can be considered includes a history of leukemia and immunodeficiencies in the family. Private cord blood banking can be costly, but it is undoubtedly, a choice that reduces risks.
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