There are numerous private blood banks throughout the world, however, and the main factors for comparison are generally location, accreditation, and fees. Some of the other factors you might consider include blood cell storage, shipping processes, laboratory testing, and how long the blood bank has been storing blood. You can always request a copy of the contract for potential blood banks you are considering so you can compare details such as consumer rights.
Location
There are many private banks throughout the world, so your cord blood bank comparison should start by determining which banks serve your location. If you choose a blood bank that is close to your selected hospital, then fewer blood cells have a chance to die during transportation. Also, some hospitals have contracts with specific private banks, so you should check if your hospital only collects blood for certain banks.
Length of time in business and reputation
All operating information concerning the business should be available in the information/enrollment packet or online at the business’s website. Check the Better Business Bureau online for any reported problems or complaints from customers. Any reputable facility will want to share its business record and customer approval information with you; this includes a guided tour of their facility if location and time permit.
Financial stability
Make sure the company you select to bank your precious cord blood is financially stable. You don’t want to find out that the company you’ve picked may someday go out of business. All financial and annual reports should be made available to you. Check to see that the business is frequently audited and has shown a positive, consistent record of financial stability.
Licensing and accreditation
Accreditation is another factor to consider in your cord blood bank comparison, if it is applicable in your geographic area. In order for a bank to be accredited, it must pass laboratory inspection by an accreditation agency. In the United States and Canada, a company called AABB will typically inspect the blood banks. In the United Kingdom, accreditation can be done through the Human Tissue Authority (HTA), and in many other countries it is done through the International Organization for Standardization (ISO).
Collection, processing and storage methods
Further factors to consider in your cord blood bank comparison include shipping processes, laboratory testing, and how long the bank has been storing blood. Not all private banks provide transportation to ship your cord blood from the hospital to the bank, so if it is not included, you will have to find your own medical courier. The testing done at the laboratory can vary, so you can check if the bank tests for infectious diseases and if it will reject contaminated blood. Also, you can compare how long a bank has been collecting and storing blood to get an idea of how much experience it has and the stability of the company.
On-site processing or outsourced processing
The fewer hands and locations your cord blood sample has to go through to be tested, processed and stored, the less likely there will be mistakes, confusion and accidents.
Collection kit instructions
All instructions should be easy to read. Many companies accompany their collection kit with an educational video demonstrating the collection procedure. Also check to see that a 24/7 cord blood educator or support staff is available in the event there are any questions or procedural issues that need to be answered or addressed.
Staff availability
The company you select should have a support staff or cord blood educator available 24/7 in the event you have additional questions before, during or after the delivery of your baby.
Collection return
It’s mandatory that the company you select has an efficient, reliable courier or delivery service that provides timely return of your cord blood sample for testing, processing and storage.
Payment plans
Depending on your financial situation, the cost of the private bank might be of concern. Many private banks offer flexible payment plans and financial options that could make privately banking your baby’s cord affordable for you. Request that a completely printed explanation be sent to you of all expected charges for your cord blood banking.
Copy of the contract
You should request a copy of the contract for any blood banks you are considering so you can compare details such as consumer rights. The contract should explain what will happen if the company goes out of business, your storage fees are not paid, or your cord blood gets lost. It should also explain the privacy policies of the blood bank. Thoroughly reading private banks’ contracts will allow you to do a detailed cord blood bank comparison before signing one.
Reference:
- www.womens-health.co.uk
- www.wisegeek.com
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