When it comes to cord blood banking, an expectant couple can have three options:
- They can store the cord blood privately in a bank.
- They may opt for the public option, and
- They decide to get rid of or dispose of the cord blood.
The expense of the procedure is quite high.
That’s why many people tend to avoid opting for it. But, if you want to take care of your family, children, and yourself – it may be better to store your cord blood. But where should you keep it? Let’s find out.
What is Private Cord Blood Banking?
If you are thinking about using cord blood for yourself, opt for a private cord blood bank. It will only be accessible to you and your family; no one else.
However, due to the leverage it provides, private cord banking can be quite expensive. Hence, if you can’t afford it, opting for public banking will be a solution for you.
What is Public Cord Blood Banking?
In public cord blood banking, you must keep the blood in a center accessible to almost everyone. The transplantation will be anonymous, and no information about your baby or you will be disclosed to the receiver.
As the blood can be used by everyone, you don’t have to pay as much storage fee as a private bank. Nonetheless, the security of your belongings will be a little less in your case. Thus, making it a crucial necessity to understand the differences.
Public and Private Cord Blood Banking: The Differences
In general, private banking offers most of the advantages to an individual. But, it can still be a little disadvantageous for you in some cases. Here are some differences that you should know:
With public cord blood banking, you’ll be restricted to choosing between the care centers that provide a public donation.
Most of them don’t participate in it due to limited funding. With a private bank, you can give birth at any place, including alongside a midwife. You’ll be offered a collection kit by the company, and a medical courier will arrive to take the blood.
You won’t have to do anything by yourself.
Either due to low stem cell count or improper infrastructure, almost 50% or more donations in a public bank get discarded.
Of course, inappropriate storage security can be a reason behind it too. The technology used to design and curate the storage space of a private bank is advanced and nearly perfect. Hence, it usually lasts for 20 years or so without any issues.
If you have bestowed your cord blood to a public bank, you will automatically be relinquished of its ownership. Hence, almost anyone can retrieve the stem cells you’ve donated and use them. At a private bank, the retrieval can only be done by you.
However, depending on the duration you have chosen, it can be taken even after 15 to 20 years have passed.
Donating to a public cord blood bank is free. After all, you are providing it as a donation there for someone else to use. So, if you want to get it, you’ll have to pay a certain amount of cash. Banking at a private place is considered to be an investment for your baby’s future.
However, it can be quite expensive. For example, you will have to reimburse a specific amount for the collection procedure. Then, the money to be paid will depend on the duration you’re keeping your cord blood. If you are storing for 20 years, it should cost you the most.
The Bottom Line
If a mother is giving birth to more than one baby at a time, the cord blood will not be received in a public bank. Besides, if your child is born prematurely or if the mother has diabetes, your chosen public center will not accept your donation.
However, if you give birth to multiple children, a private bank will still store your blood. In addition, most of them will also offer a discount on their pricing. So, it’s a win-win!