Many parents are banking their babies' cord blood as a form of "biological insurance."
Private blood banks store the blood in case the child needs it for future medical treatments.
A leading bank, Cord Blood Registry, charges $1,975 the first year, and $125 a year in storage fees.
But in a new policy statement, the American Academy of Pediatrics renewed its opposition to private cord blood banking. The AAP says the chance a child would ever need their cord blood is at best 1 in 1,000 and as low as 1 in 200,000.
"Families may be vulnerable to the emotional effects of marketing for cord blood banking at the time of a birth of a child," the academy said, instead urging parents to donate, free of charge, to public cord blood banks.
But the Association of Family Cord Blood Banks, which represents private banks, said the odds a child will need cord blood will increase as science advances. The association said the AAP does not provide a "balanced perspective on the distinct, scientifically proven benefits of family cord blood banking."
Jim Ritter
