Classification is used to group similar things into common categories. With classification, similar things are members of a class. Similar classes are members of yet a more general class or family, and so on. The relationship among things and the relationship of a thing to its class are information signals that are necessary for item discovery, spend analysis, and product awareness. In other words, classification is necessary for effectively searching and finding appropriate products and services, for identifying where expenditures are being made.
Item Master Classification
Classifying products with a common coding scheme facilitates commerce between buyers and sellers and is becoming mandatory in the new era of electronic commerce.
A common naming convention allows systems to automatically list similar products under a single category. When a person is searching for the category, he or she finds precisely the things being discovered and nothing else.
Grihasoft provides Data Classification Services to classify transactions or master data-related products and services to well-known global standards such as UNSPSC, HCPCS or a proprietary schema.
Grihasoft has a specialist team of taxonomy experts that can build a schema to specific domain tailored to customer needs. This comes with category codes, category definition, attribute names and attribute definitions, cross reference to any existing schema.
What is UNSPSC?
The <strong>United Nations Standard Products and Services Code® (UNSPSC®)</strong>, 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. It is a four-level hierarchy coded as an eight-digit code, with an optional fifth level for adding two more digits. The four primary levels of the code are Segment, Family, Class and Commodity.
Below is an Example:
The new version of UNSPSC is being released twice a year with updated codes by taking various inputs from the user community. The current version is having 80396 categories under Commodity level. It is available in 13 languages with various version for each language.
What is HCPCS coding?
HCPCS is an acronym for Healthcare Common Procedure Coding System. The accurate HCPCS code plays an important role in patient access to new or existing technologies and reimbursement strategy.
HCPCS codes are known as Level II codes, because they are additional codes created to supplement and help further define procedure codes. HCPCS codes cover some procedures that aren’t defined within the CPT-4 structure, but mainly covers supplies, pharmaceuticals, dental and other services that aren’t considered procedures, yet are an integral part of health care billing. HCPCS codes are five-digit codes, but the first digit is an alpha character.
Below is an Example of HCPCS code:
| ITEM | HCPCS Code | HCPCS Description |
|---|---|---|
| SURGICAL GLOVE TRIFLEX STERILE 5.5 POWDERED | A4930 | GLOVES, STERILE, PER PAIR |
| WIRE KIRSCHNER 1.6MMx229MM | C1713 | ANCHOR, SCREW FOR OPPOSING BONE-TO-BONE OR SOFT TISSUE-TO-BONE (IMPLANTABLE) |
| HEAD FEMORAL UNITRAX UNIPOLAR 48MM |
C1776 |
CATHETER, OCCLUSION |
