Using a hierarchical classification system, hospitals and other healthcare buyers will be able to source products faster, while more effectively analyzing their purchasing in order to take advantage of better contract pricing. Because UNSPSC is relatively simple in structure and covers all products sold in the healthcare marketplace, suppliers can use it to more efficiently publish their product data in a universally understood language and through a variety of sales channels.

“The adoption of UNSPSC takes GHX’s commitment to accurate data to the next level,” says Kevin Ruffe, GHX vice president of Operations. “With the accuracy of the AllSource catalog, GHX trading partners are already experiencing the benefits of cleaner, more accurate transactions. Now, with product classification, they can leverage the accuracy of that data for analytical purposes to achieve even greater efficiencies and cost savings.”

GHX selected the UNSPSC because it can be used for all products purchased by healthcare organizations on a global basis. The UNSPSC has also been recently updated to meet the specific needs of the healthcare industry. A year-long effort led by the Coalition for Healthcare e-Standards (CHeS), an industry association formed to adopt and promote uniform industry data standards for supply chain transaction over the Internet, culminated in last year’s rewrite and publication of UNSPSC Segment 41, “Laboratory and Measuring and Observing and Testing Equipment” and Segment 42, “Medical Equipment and Accessories and Supplies.”

CHeS chose to endorse the UNSPSC after evaluating several other options. “Industry adoption of UNSPSC is going to be absolutely critical to helping e-commerce deliver supply chain efficiencies,” said CHeS Chairperson Joe Pleasant. “But the UNSPSC adoption by GHX is an important first step, and we look forward to seeing all supporters of the healthcare supply chain advocate for more progress in this area.”

UNSPSC, with its new medical segments, is the first product taxonomy available to the healthcare industry that is not part of a proprietary, commercial product or service.

About Global Healthcare Exchange (GHX)
Global Healthcare Exchange, LLC (GHX) provides an open and neutral electronic trading exchange, along with complementary products and services, through which buyers and sellers can collaborate to improve efficiencies in the healthcare supply chain. GHX’s catalog and content services improve the accuracy of purchasing transactions, reducing many of the most common and costly problems in healthcare procurement, while the privately held company’s revenue neutral business model is designed to lower costs for all involved. GHX’s owners, strategic partners and trading exchange participants are representative of the entire healthcare supply chain, including suppliers and distributors; integrated delivery networks (IDNs), hospitals and ancillary healthcare facilities; group purchasing organizations and their proprietary healthcare trading exchanges; and supply chain technology companies. Equity owners of GHX include Johnson & Johnson Health Care; GE Medical Systems; Baxter Healthcare Corp.; Medtronic USA, Inc.; Abbott Exchange, Inc.; Siemens; Becton, Dickinson & Co.; Boston Scientific Corp. Tyco Healthcare Group, LP; Guidant Corp.; C.R. Bard, Inc.; AmerisourceBergen Corp.; Cardinal Health, Inc.; Fisher Scientific International, Inc.; McKesson Corp.; B Braun Medical Inc.; Premier, Inc. and HCA. For more information visit www.ghx.com.