Is Private Cord Blood Banking Worthy?

Expecting a baby is one of the beautiful yet important phases of life. Several decisions are to be made and what to do with your newborns cord blood is just one of them. Cord blood is a precious commodity that is collected from a newborn right after birth. Being a rich source of stem cells, cord blood is currently used to treat more than 80 diseases including several forms of cancers, immune disorders, blood disorders and genetically inherited diseases to mention a few. Parents may discard it, donate it to public banks or store it in a private cord blood banking facility. Storing cord blood and tissue at private banks may cost you whereas donations are free of cost. Cord blood donated to the public bank is used either for medical research or stem cell transplants. 

Private cord blood banking have been gaining immense popularity in the recent times, as you can find its marketing pitches everywhere – at doctor’s waiting rooms, pregnancy related mobile apps, parenting magazines and more. The month of July is even considered as National Cord Blood Awareness Month. But according to the doctors, parents need to be very cautious when signing up for the private cord blood storage. Expectant parents need to think long and hard before taking an informed decision. Banking your newborns cord blood at a private bank is an expensive affair, as the processing fees can run from roughly $500 to $2,500 with the annual storage fees of $100 to $300 each year thereafter. 

Most of the parents who opt for private cord blood banking consider it as a precious resource and biological life insurance for their kid. Even though, the chances of your child benefiting from his or her own cord blood are less than 0.04 percent. This is because the cord blood contains the same cells and genetic defects that are responsible for the diseases in the first place. So, the best case is to choose private banking only if your family has a medical history of diseases currently treatable with cord blood. Talk with your doctor in order to discuss all the possibilities and take a wise decision.