About Epic Systems Corporation

Epic Systems tells a grand tale of health care technology. The company provides health care management software that integrates financial and clinical information across inpatient, ambulatory, and payer technology systems. Epic's products include scheduling and registration tools, billing and managed care administration applications, inpatient and outpatient core clinical systems, electronic health record (EHR) applications, and software for managing hospital pharmacy, emergency, surgery, radiology, laboratory, and intensive care departments. The employee-owned company was founded in 1979 by CEO Judith Faulkner.

Operations

Epic's suite of software products enables clients to manage all functions related to patient care, from scheduling appointments to managing patient information to handling billing. Its applications include the Care Everywhere line (which allows doctors and caregivers to input and control the flow of information across organizations that need to access it) and Lucy PHR (in which patients manage their own health care data).

In addition to its software, Epic provides a range of services including implementation, process engineering, training, optimization, systems architecture, and content library information exchange.

Geographic Reach

Epic Systems' headquarters are located on an 800-acres campus in Verona, Wisconsin. The company expanded its headquarter facilities (which it refers to as the Intergalactic Headquarters) in 2011 to accommodate its growing employee base and a 5,000-square-foot data center. Epic Systems serves international customers though offices in The Netherlands, Denmark, Dubai, and Singapore.

Sales and Marketing

The company targets large health care organizations making investments in modernizing their technology infrastructures and moving towards standardized electronic health records. Its client roster includes 260 customers, which reflects Epic's strategy of working with a relatively small number of large health care providers and hospitals. Clients include academic medical centers, community hospitals, pediatric care centers, and multi-hospital systems such as the Mayo Clinic, Cleveland Clinic, Johns Hopkins, and the University of California Health System.

Financial Performance

Epic has experienced climbing revenues in recent years as demand for its products and services has grown. The company had sales of almost $1.8 billion in fiscal 2014.

Strategy

Epic is hoping to take advantage of the network effect in opening its own app store. Third-party companies can develop applications that run on Epics electronic health records system. As Apple and similar companies have shown, the value of a platform is enhanced by the number of applications available.

Epic benefited from the American Recovery and Reinvestment Act of 2009, which included financial stimulus funding for hospitals to install successful EHR systems. As it enjoys climbing revenues, Epic has expanded its staff, facilities, and services to meet demand from key customers including Kaiser Permanente. Epic completed a large-scale electronic records system installation for the health insurance provider.

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Epic Systems Corporation

1979 Milky Way
Verona, WI 53593-9179
Phone: 1 (608) 271-9000

Stats

  • Employer Type: Private
  • CEO: Judith R. Faulkner
  • President: Carl D. Dvorak
  • CEO: Judith R. Faulkner
  • Employees: 9,900

Major Office Locations

  • Verona, WI