Private cord blood banks are for-profit. These organizations store cord blood just for the use of the donor or their relatives.
Private cord blood banks are a bit controversial. In fact, they are currently not legal in France and Italy. The criticism stems from the idea that most children will not develop a disease where they will need their own cord blood. The storage fees are high. So often, non-supporters of private cord blood banks will suggest that private cord blood banks prey on the insecurities of new parents.
The long-term viability of cord blood may also play a role in whether or not a private cord blood bank is worth the money.
Private cord blood banking is often not recommended unless genetic diseases run in the family. The cost to store cord blood in a private bank is approximately $2000 for the initial collection and $125 per year after. So for some families, saving their newborn's cord blood is not a possibility as the costs are high.
If you are planning on selecting a private cord blood bank, make sure they have high-tech storage facilities and take the utmost care in preserving and storing the cord blood. You should also make sure the bank will store the cord blood in several vials instead of just one. This way, more than one transplantation can take place (in the event a family member needs more than one).
Many private cord blood banks will offer you a discount the earlier during your pregnancy you enroll. You may also check into a discount if you choose to store the cord blood from more than one child.
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