“Do good. Have fun. Make money.”

Humza Siddiqui

Product

¤  EpicCare Ambulatory and Inpatient EHRs

¤  Hyperspace

¤  Chronicles

Epic.com

Mobile

¤  For the patient: MyChart, Bedside, Lucy

¤  For the physician: Haiku, Canto

Epic.com

Finances

¤  Revenue: $1.77 billion (2014)*

¤  Upward revenue trend: $825 million (2010), $1.12 billion (2011), $1.53 billion (2012) **

¤  60% software, 40% services **

*http://www.beckershospitalreview.com/healthcare-information-technology/50-things-to-know-about-epic-and-judy-faulkner.html ** http://www.healthcare-informatics.com/hci100/epic-systems-corp

Market Share

http://www.softwareadvice.com/resources/ehr-meaningful-use-market-share/

The Beginning

¤  1979: Established as Human Services Computing

¤  Judy Faulkner and two other part time employees in a basement

¤  No venture capitalists or private equity investors

http://www.beckershospitalreview.com/healthcare-information-technology/50-things-to-know-about-epic-and-judy-faulkner.html

¤  1992: EpicCare EMR launched, joining 50+ existing products

¤  2000: 550 employees and $50 million in sales

¤  2002: “Best overall vendor of healthcare IT” by KLAS for seventh straight year in a row

Starting Strong

http://www.fundinguniverse.com/company-histories/epic-systems-corporation-history/

Explosive Growth

¤  2003: $1.8 billion dollar deal with Kaiser Permanente

¤  2005: 2000 employees, HQ moved to Verona from Madison

¤  Today: After continuous rapid growth, 9000 employees

http://www.fundinguniverse.com/company-histories/epic-systems-corporation-history/

Secret Sauce

¤  Judy Faulkner

¤  “Code is king” mentality

¤  Marriage with customers

Forbes.com

Competition

http://dashboard.healthit.gov/quickstats/pages/FIG-Vendors-of-EHRs-to-Participating-Professionals.php

Cerner

¤  $4.3 billion DOD contract

¤  $1.3 billion Siemens Health Services acquisition

Epic Cerner

Employees (2015)

8,000 22,000

Revenue (2014) $1.77 billion $3.40 billion *

Market Share (2015) *

11.6% 3.5%

*"Cerner Corp, Form 10-K, Annual Report, Filing Date Feb 11, 2015” ** http://www.beckershospitalreview.com/healthcare-information-technology/epic-vs-cerner-9-key-comparisons.html

Problems for the future

¤  Old and obsolete technologies, with currently hopeless solution

¤  Poor public image, with no attempt at a solution

My Prediction: Epic Will Remain on Top

¤  Industry Standard

¤  Large and loyal customers with deep pockets

¤  Once again, Judy Faulkner

http://ceoworld.biz/2014/09/12/top-8-wealthiest-woman-ceo-america-2014-edition/judy-faulkner

Questions?

Beckershospitalreview.com