Private vs. Public Cord Blood Banking: Top 5 Distinguishable Differences
Being a parent and caring for the family is really difficult. It puts a lot of toll on your body. If you are a family head, there are various responsibilities and hard work that needs to be established. In the modern world, one of the major concerns is taking care of everyone’s health.
While we ensure that our family gets the best lifestyle, health is something that can’t be controlled. If the condition goes critical, we seem to find ourselves clueless. Hence, it is now that you need to start planning and taking steps to tackle future health issues. This is where blood banks offer solutions. They offer access to advanced medical science technologies which can be used to preserve cord blood.
What is cord blood?
Cold blood is the blood from the umbilical cord. Experts believe that the blood in the umbilical cord is full of vitality and new cells that hold the potential to cure even cancer. After the umbilical cord is separated from the child and mother, doctors extract the blood from the cord, process, freeze, and store it. In the last decade, cord blood banking has become popular. This is why you will find private and public medical institutions offering storage facilities. Today, we discuss the differences they have while offering the same solution.
Private Vs. Public Cord Blood Banking: What’s The Difference?
As the name suggests, private and public cord blood banking is related to the institution. If there are private organizations offering the storage services of cord stem cells, they are called private cord blood banking.
At the same time, if there are public institutions like general hospitals and other medical institutions, it is known as public cord blood banking.
There is no difference in the services they offer. The only difference you will find is in the process of storing and accessing it.
Here are the differences:
Intention Of Use
In private cord blood banking, the stem cells are preserved for the child or other family members to treat almost 80 diseases. The reason why most people prefer private cord blood banking is that it is available for clinical trials to treat medical conditions like autism.
In the case of public cord blood banking, everything remains the same, but trials are not available. Cord blood can only be used for a disease that has been proven to be cured.
Talking about the right, in the case of public cord blood banking, the family holds all the rights and immediate access to stem cells.
However, in public cord blood banking, if a family donates cord blood, they lose the rights and access. Instead, the cord blood is sold to a family who is needed, and they hold full rights and immediate access.
The cord blood is extracted from the mother and child. At the time of delivery, doctors extract the stem cells without harming either of them and serve the bankee plenty of benefits.
However, in the case of public cord blood banking, collection of multiple cord blood banking can take place simultaneously without harming the mother or the child.
Cost Of Preserve
Cost of preservation – This is where you can start seeing the real difference. When it comes to public cord blood banking, the cost might vary depending on the organization and the services they offer. The average payment plan starts at $69 a month for a term of two years. However, these plans might vary with time.
However, in public, cord blood banking is absolutely free. This is because you are donating cord blood.
Cost Of Retrieve
The process is exactly the opposite when you retrieve cord blood cells.
In the case of public cord blood banking, you can retrieve it anytime for free. You have already invested enough with the monthly payment to keep the cord blood cell preserved.
But, in the case of public cord blood banking, you might have to pay an approx of $45,000. This is the amount you have to pay to purchase cord blood cells when your family members are in need.
What Are Our Thoughts?
We think that both methods to preserve cord blood banking have their pros and cons. Before you pick either one of the options, you must look into the intricate details. This will give you an enclosure of what you can expect from both services.
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