The Ledger
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Epic's trust rules mandate its next CEO must be a software developer
“One, must be a longtime Epic employee, and two, must be a software developer.”
Epic has zero customer churn among its major hospital clients
“They have the majority of the U.S.'s major hospital systems using their software and of their over 600 customers, they have never lost a single one.”
90% of US medical students currently train on Epic's software
“And I think now, 90% of med school students train on Epic.”
Epic's core differentiation is its single unified database
“It is true that Epic's core database, the core single database, and this is Epic's big differentiation. There's only one database that every application pulls from.”
Epic screened candidates using a test written by the founder's 7th-grade son
“And for 18 years, listeners, that was how they tested to determine if someone should work at Epic.”
Epic posts '10 Commandments' barring IPOs in every campus bathroom
“They have them posted in every bathroom and in every break room across the entire campus. And so any visitor who goes there and it's open to the public, you can just go in and see the 10 Commandments in the bathrooms there. The 10 Commandments are number one, …”
Epic Systems has no sales department and only eight inbound salespeople
“There's not a sales or marketing department. There are eight or so salespeople, quote unquote, in the company who only react to inbound requests and they all came from either project management or technical specialists.”
Epic operates with minimal middle management and zero divisional budgets
“So, because of that high level of trust, there's very few middle managers. You understand the system that everybody else works within, and you don't have to corral chaos. Most of the people they're hiring are right out of school, so they've been there for a lo…”
Epic sends annual 1-5 report cards to hospital client executives
“So they will send separate report cards.
Every year to your CEO, CIO, and CFO, and they will grade you one through five on a bunch of dimensions, and then they will show you benchmark data against other customers at your peer set of like relative similar size …”
Judy Faulkner mandated universal data sharing across all Epic clients
“Judy made the call personally that Care Everywhere wasn't a thing or shouldn't be a thing where their customers could pick and choose. If you were enabling it worked across All Epic customers, even if they were your local competitor.”
Epic Systems has never raised VC or acquired another company
“They never raised any venture capital, and they've never done any acquisitions in their 47 years of existence.”
Founder Judy Faulkner created a trust to prevent Epic's IPO
“Judith, at age 81, has created a succession plan and a trust structure for her voting shares to ensure that that will stay true forever.”
Epic secured all 20 of the top US academic hospitals
“They announced that they have all 20 of the top academic hospitals in the U.S. News and World Report rankings.”
Epic's Cosmos platform holds anonymized data from 295 million patients
“Cosmos has 295 million patients worth of data in it, all anonymized.”
EpicCare was the industry's first Windows GUI EMR application in 1992
“And on the back of that in 1992, they launch Epic Care, which I believe is the first graphical user interface like Windows based EMR application in the entire industry.”
The Cures Act legally permits screen scraping against Epic's software
“The Cures Act makes things like screen scraping or Chrome extensions or RPA legal as a means to extract data from Epic. And there's nothing they can do about it. That is required allowed.”
Epic Systems has never entered litigation or mediation with any customer
“Interestingly, though, they have never been in a lawsuit or even in mediation with a customer.”
Epic's corporate campus features an 11,400-seat underground auditorium
“It's 1700 acres. 410 of them are the campus. The rest is the farm. It now covers 89 buildings, There are four indoor auditoriums with 18,000 seats total. The big one, Deep Space, is the world's largest subsurface auditorium. There are 11,400 seats.”
Epic Systems spends 35% of its operating expenses on R&D
“The result of that is 35% of their operating expenses are spent on R&D.”
Epic's MyChart portal has 191 million active users
“Today there are a hundred and ninety one million active users of MyChart, and this is deduplicated. This is active, unique users of MyChart today.”
Epic software reportedly prevented 66M drug interactions in 2023
“Epic has a stat in 23, its system prevented sixty-six million potential adverse drug interactions and 250,000 potential surgical errors.”
Epic's share of Kaiser's $4B software project was $400M
“The headline number, as everyone reports it, it's a four billion dollar deal. They call it a four billion dollar three-year project, and that Epic's portion is around four hundred million.”
Winning the Kaiser contract propelled Epic to $162M in revenue
“After they signed Kaiser, they go to a hundred and sixty two million in annual revenue.”
Epic requires all employees to complete clinical immersion trips
“Everyone does immersion trips where the software developers, I mean, everyone is required to spend time in clinical settings like operating rooms to directly observe workflows.”
Epic's MyChart was healthcare's first integrated patient portal
“So it becomes the first integrated patient portal”
Epic Systems still uses a MUMPS descendant for its core stack
“And Epic still uses Mumps today, or actually it uses its Modern descendant cache, but this is the standard programming language for the industry and database system for the industry.”
Epic's Care Everywhere network exchanges 20 million patient records daily
“Today there are twenty million patient records exchanged daily.”
Epic's 1987 Resolute module remains its core hospital billing application today
“So in 1987, they launch a billing module called Resolute, again, on top of the Chronicles. Single core database, which still today is the company's revenue cycle application for all their hospitals.”
Epic assigns dedicated technical product teams to every customer
“Every single customer of the, 607, whatever hospital system customers that Epic has, every single customer has their own
Technical specialists teams for every single product that they use.”
International sales account for roughly 10-15% of Epic's business
“They're now starting to sell international and build that as a real market. It's not huge, but it's, you know, call it 10 to 15% of the business now.”
Epic's Cosmos database is free for institutions that contribute data
“And it's accessible to any institution for free that contributes data in. So of all the Epic customers, Anyone who opts in gets to access and query it for research or cool stuff.”
Epic plays wedding bells campus-wide upon signing each new client
“Other interesting things about the campus, they have wedding bells that will play campus-wide when a new client is signed, just showing that that's the type of commitment that this is. It's a, we've now married this client for the rest of our lives.”