Epic Systems (MyChart)

3369 snips

Apr 21, 2025

Discover the fascinating world of Epic Systems, the healthcare software giant run from a rural Wisconsin farm. The whimsical campus features everything from Hogwarts replicas to a massive auditorium. Learn about founder Judy Faulkner, a pioneering self-made woman committed to never selling her company. Explore how Epic's MyChart revolutionizes patient interactions and the intricate dynamics of EMR adoption in the U.S. healthcare landscape. The podcast dives deep into Epic's unique culture, market impact, and the ambitious innovations shaping healthcare.

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INSIGHT

Epic's Single Integrated Platform

Epic Systems succeeded by building a single integrated platform for hospitals that manages everything from patient care to billing and scheduling.
Its unified database architecture offers unmatched reliability and seamless data consistency, which rivals failed to match.

ANECDOTE

Judy's Nobel Peace Prize Family

Judy Faulkner's mother was part of a group that won the Nobel Peace Prize in 1985 for nuclear disarmament efforts.
This background illustrates Judy's family environment blending entrepreneurship and deep social commitment.

ADVICE

Bootstrapping Epic's Beginnings

Starting a business can require creative financing and resourcefulness, exemplified by Judy Faulkner securing a $70,000 bank loan for a minicomputer.
Judicious early investment and leveraging personal networks can help build foundational assets on a lean budget.

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What if we told you that the most important company in US healthcare was run from a farm in rural Wisconsin? And that farm contained the world’s largest subterranean auditorium, as well as Disneyland—style replicas of Hogwarts and the Emerald City? What if we told you that the person who started, runs and owns this establishment has legally ensured that it will never be sold, never go public and never acquire another company? And that this person, Judy Faulkner, is also likely the wealthiest and most successful self-made woman in history?

Welcome to the story of Epic Systems, the software company that underpins the majority of the American healthcare system today. Epic isn’t “just” an electronic medical record (the category it’s usually lumped into), or an online patient portal (which is how most of the US population interacts with it via its MyChart application). It’s more akin to a central nervous system for hospitals and health clinics. Almost everything in a hospital — from patient interactions to billing, staffing, scheduling, prescriptions and even research — happens on Epic’s platform, and over 90% of American medical schools’ graduating doctors, nurses and health administrative staff are trained on it during their educations. Tune in as we dive into the almost-unbelievable story of how this epic company came to be!

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‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.