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. Outside the US, it serves European clients from an office in the Netherlands. The employee-owned company was founded in 1979 by CEO Judith Faulkner.
Epic Systems' headquarters are located on 800 acres of land 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; the compound now includes a 5,000 sq. ft. data center.
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.
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 Cleveland Clinic, Johns Hopkins, and the University of California Health System.
Epic has experienced climbing revenues in recent years as demand for its products and services has grown. The company had sales of $1.2 billion in 2011.
Epic is benefitting 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 been rapidly expanding 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 in 2010. – less
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