Cord blood banking back then was considered to be a niche that is seldom practiced. With that being said, over time people are discovering the huge benefits of what this procedure provides not only to their clients but also in the field of medicine. A testament of the success of this procedure can be seen with the growing number of public and private cord blood banks which provide timely services to their clients on a regular day to day basis. Even with its growth, there are still many who are unsure of investing in cord blood banking which is pretty understandable. Let us look at some cord blood banking pros and cons to help you find success with this endeavor.
Benefits of Cord Blood Banking
As mentioned earlier, cord blood banking has been increasing in popularity and for a number of good reasons. First off, the cord blood is known to provide a healthy amount of blood stem cells. These stem cells are considered to be key components in helping repair tissues, organs, and blood vessels while at the same time, can be used to treat a myriad of diseases. This includes diseases that harm the blood and immune system, certain cancers, sickle-cell anemia, as well as some metabolic disorders.
Another noteworthy benefit of banking your cord blood is that others can use this for the betterment of society. Scientists and medical experts today make good use of the stem cells found in cord blood for research studies intended to improve patient outcomes.
Disadvantages that are Worth Considering
It is important to note that cord blood banking even with its plethora of benefits, still has their fair share of disadvantages which people need to consider. One of the deciding factor that can convince a person to pursue a particular endeavor is their cost. Cord blood banking especially when done in private is known to cost a substantial amount of resources in order to pursue them. Private cord blood banks have a cost ranging from $1,000 to $3,000 for the first-year processing fee.
Storing cord blood is often done with a long term goal in mind and as a result, clients will also need to consider the annual storage costs of about $90 to $175. Another thing to note is that cord blood banking is not usually covered by your insurance so most of the cost will come out directly from your pocket. There is a cheaper alternative in the form of public banks however, the cord blood is received as a form of donation. This in turn gives donors little to no control as to where their cord blood will be used.
The cord blood banking pros and cons often outweighs the advantages over the disadvantages. With that being said, this is a decision that needs to be considered and planned out for a considerable amount of time. For that matter, make sure that you get in touch with your doctors in advance about your plans regarding cord blood banking.