Estimated read time: 3-4 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
[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
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
