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Drug Classification System Complements More than 55,000 Existing Codes Available Across Multiple Industries


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[STK]

[IN] HEA MTC

[SU] PDT

TO HEALTH, MEDICAL, AND NATIONAL EDITORS:

Enhanced Pharmaceutical Drug Classification System is Available via

The United Nations Standard Products and Services Code@

LAWRENCEVILLE, N.J., March 4, 2014 /PRNewswire-USNewswire/ -- The

United Nations Standard Products and Services Code@ (UNSPSC@), managed

by GS1 US, now includes an enhanced global product classification

system for active pharmaceutical drugs worldwide. The code set,

designed to help healthcare procurement and finance professionals

achieve spend analysis visibility, offers more than 9,300 updates to

its latest version.

"The drug classification codes complement the more than 55,000 product

classification codes across multiple industries that are available in

the UNSPSC system," said Michael Pheney, vice president of healthcare,

GS1 US. "Classifying products and services in a standardized format

can provide the visibility that procurement professionals need to make

informed purchasing decisions leading to better asset and supply

management."

The pharmaceutical code set, available to hospitals, pharmacies,

manufacturers, distributors and group purchasing organizations, was

developed by an industry committee representing over 20 organizations

from across the healthcare industry. The committee gathered

information on all drugs currently on the market according to more

than 25 regulatory and industry formularies, including U.S. Food and

Drug Administration Unique Ingredient Identifiers, U.S. National

Institutes of Health Compound Identifiers, European Medicines Agency

eXtended EudraVigilance Medicinal Product Dictionary (XEMPD), the

World Health Organization International Nonproprietary Names (WHO

INN), the Anatomical Therapeutic Chemical Classification (ATC), U.S.

Veterans Administration, and the U.S. International Trade Commission

Harmonized Tariff System (HTS).

A comprehensive listing of current drug compounds was derived and

classified with detailed definitions as well as name, chemical formula

for the compound and references to source formularies. Additional

enhancements to the code set will be released later this year to

include Medical Equipment and Accessories and Supplies.

UNSPSC is a member-funded and member-supported initiative. To gain

additional benefits, including access to past versions of the code and

the opportunity to shape the code's future to best meet business

needs, users are encouraged to join the UNSPSC. The current

multi-industry UNSPSC code set is available free of charge.

For more information about UNSPSC, visit www.unspsc.org and to learn

more about GS1 US, visit www.gs1us.org.

About UNSPSC The United Nations Standard Products and Services Code@

(UNSPSC@), managed by GS1 US for the UN Development Programme (UNDP),

is an open, global, multi-sector standard for efficient, accurate

classification of products and services. UNSPSC is a flexible

classification system for achieving spend analysis visibility, as well

as, enabling procurement to deliver on cost-effectiveness demands. It

includes a five-level hierarchical classification code set and enables

expenditure analysis at grouping levels so that users can drill down

or up to the code set to see more or less detail as is necessary for

business analysis.

About GS1 US GS1 US, a member of GS1, is an information standards

organization that brings industry communities together to solve

supply-chain problems through the adoption and implementation of GS1

Standards. More than 300,000 businesses in 25 industries rely on GS1

US for trading-partner collaboration and for maximizing the cost

effectiveness, speed, visibility, security and sustainability of their

business processes. They achieve these benefits through solutions

based on GS1 global unique numbering and identification systems,

barcodes, Electronic Product Code-based RFID, data synchronization,

and electronic information exchange. GS1 US also manages the United

Nations Standard Products and Services Code (UNSPSC). www.GS1US.org

SOURCE GS1 US

-0- 03/04/2014

/CONTACT: Shannon Sullivan , GS1 US , (609) 620-4534, ssullivan@gs1us.org

/Web Site: http://www.gs1us.org

CO: GS1 US

ST: New Jersey

IN: HEA MTC

SU: PDT

PRN

-- DC76281 --

0000 03/04/2014 15:35:00 EDT http://www.prnewswire.com

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