Traditionally, medical practice has been recognized as one of the professional practices with high
honors. The interaction between physicians and patients is to provide health care services without the profit
orientation. In modernized economy and in today’s world of business, the relationship between doctors and
patients has been dramatically changed. This transformation is very obvious in the private sector. Health care
providers sell their services. Patients have been approached as customers. Decisions to make an investment on
new medical technologies or new services would accompany with careful consideration on cost-benefit ratio,
on marketing and also on short and long term return of the investment. However, most of the medical services
available in the past were focusing on the “real” and “tangible” products. This means that the patients or the
customers would obtain diagnosis, treatment, palliation or prevention for the fees they paid. They can at least
obtain and can feel some direct or indirect health benefits from the services. With the advancement of science
and technology, there is recently a new model of business that sells only the hope for future use. Private cord
blood stem cell banking is a good example for this business model. Actually, business on hope is not the brand
new business model. Insurance is a well-known classical prototype of business on hope. However, when this
kind of business model is applied for medical services, there should be some precautions and also intervention
including an oversight system from the government sector to make sure that all the information delivered to
the clients and family is accurate and unbiased. From the public policy perspective, this business of hope
should be appropriately regulated to preserve consumer rights while promoting the advancement of science
and technology through sustainable business development.

Keywords: Stem cells, Cord blood banking, Business, Insurance, Hope