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Judy Faulkner

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Judith R. "Judy" Faulkner (born August 11, 1943) is an American billionaire businesswoman, entrepreneur, and philanthropist who founded and serves as CEO of Epic Systems, one of the world's largest healthcare software companies and the dominant provider of electronic health record (EHR) systems in the United States.[1] Based in Verona, Wisconsin, Epic maintains the medical records of more than 325 million patients—approximately half of the U.S. population—and serves more than 50% of hospital beds across the country, making it the largest EHR vendor by market share.[2]

Faulkner founded Epic in 1979 under its original name, Human Services Computing, starting the company in a basement with just $70,000 in startup capital and two part-time assistants.[3] The company has remained privately held throughout its history, never accepting venture capital or private equity investment and never acquiring another company—a philosophy that Faulkner considers essential to maintaining focus on customer needs rather than investor returns. She has repeatedly stated that Epic will never go public.[4]

In 2013, Forbes magazine named Faulkner "the most powerful woman in healthcare," recognizing her influence over the U.S. healthcare system through Epic's dominance of the EHR market.[5] As of July 2024, Forbes estimated her net worth at US$7.8 billion, making her one of the wealthiest self-made women in America and among the richest people in the healthcare industry.[6]

Faulkner signed the Giving Pledge in 2015, committing to donate 99% of her assets to philanthropy.[7] In 2019, she and her husband Gordon founded the Roots & Wings Foundation, which supports nonprofit organizations serving low-income children and families.[8]

Early life and education

Family background

Judith R. Faulkner was born on August 11, 1943, to Louis and Del Greenfield.[9] Her parents instilled in her an early interest in healthcare that would shape her career. Her father, Louis Greenfield, was a pharmacist, giving young Judy exposure to the healthcare profession and the importance of accurate medical information in patient care. Her mother, Del Greenfield, served as the director of Oregon Physicians for Social Responsibility, a nonprofit organization focused on healthcare advocacy and nuclear disarmament—exposing Judy to the intersection of medicine and social activism.[10]

Faulkner was raised in the Erlton neighborhood of Cherry Hill, New Jersey, a suburban community in the Philadelphia metropolitan area.[11] Growing up in this environment, she developed the work ethic and intellectual curiosity that would characterize her later career.

Education

Faulkner attended Moorestown Friends School, a private Quaker school in Moorestown, New Jersey, graduating in 1961.[12] The Quaker educational tradition, with its emphasis on integrity, simplicity, community, and service, influenced her values and business philosophy.

She then enrolled at Dickinson College, a small liberal arts college in Carlisle, Pennsylvania, where she earned a Bachelor of Arts degree in mathematics.[13] The mathematics training provided her with the analytical and logical thinking skills that would prove essential for her work in computer programming and software development.

After completing her undergraduate degree, Faulkner pursued graduate studies at the University of Wisconsin–Madison, where she earned a Master of Science degree in computer science.[14] In 1965, she began doctoral studies in computer science at UW-Madison, though she would ultimately leave the program to pursue entrepreneurship.

Introduction to medical computing

The pivotal moment in Faulkner's career came during her graduate studies at the University of Wisconsin when she took a course on computing in medicine taught by Dr. Warner Slack, a pioneering researcher in medical informatics.[15] This was perhaps one of the first courses anywhere to explore how computers could be applied to healthcare.

As part of the course, Faulkner was tasked with developing a system to track patient information over time—a project that opened her eyes to both the potential and the challenges of using computers to improve healthcare delivery.[16] In the early 1970s, she began working with a physicians' group at the University of Wisconsin, developing a database to track clinical information over time. She wrote all the code herself on a Data General Eclipse 16-bit minicomputer, which was roughly the size of a refrigerator.

This hands-on experience convinced Faulkner that there was enormous potential to improve healthcare through better information systems—and that existing solutions were inadequate to the task.

Career

Founding of Epic Systems (1979)

In 1979, shortly after receiving her master's degree, Faulkner co-founded Human Services Computing with Dr. John Greist, a psychiatrist at the University of Wisconsin who shared her vision for using computers to improve healthcare.[17]

The company began in a basement at 2020 University Avenue in Madison, Wisconsin—modest origins for what would become one of the most influential healthcare companies in the world.[18] Faulkner started with just $70,000 in startup capital, raised from friends and family, and two part-time assistants.

From the beginning, Faulkner established principles that would guide Epic's development:

  • The company would remain privately held, never accepting venture capital or private equity investment that might pressure it to prioritize short-term returns over long-term product quality.
  • Epic would develop all its software internally rather than acquiring other companies, ensuring tight integration and consistent quality.
  • The company would never go public, allowing it to focus on customers rather than shareholders.
  • Epic would invest heavily in research and development, continuously improving its products rather than resting on past successes.[19]

Early growth (1980s–1990s)

In its first years, Human Services Computing (which would later be renamed Epic Systems) grew slowly, building relationships with healthcare organizations in Wisconsin and surrounding states.[20] The company developed its core competency in creating software that clinicians actually wanted to use—a significant challenge given that many early healthcare IT systems were designed by engineers with little understanding of clinical workflows.

By the end of 1995, Epic had secured 100 clients across the country and employed 125 people.[21] While this represented solid growth, the company remained a regional player compared to larger competitors like Cerner and MEDITECH.

Breakthrough and dominance (2000s–present)

Epic's breakthrough to national dominance came in 2003 when it landed its largest contract ever: a deal with Kaiser Permanente, one of America's largest integrated healthcare systems, to provide software for 30 hospitals, 423 medical offices, and over 11,000 physicians.[22] The Kaiser contract validated Epic's ability to serve the largest and most complex healthcare organizations and opened doors to other major health systems.

The Health Information Technology for Economic and Clinical Health Act (HITECH Act) of 2009, which provided billions of dollars in federal incentives for healthcare providers to adopt electronic health records, accelerated Epic's growth dramatically.[23] Healthcare organizations rushed to implement EHR systems to qualify for meaningful use incentives, and Epic was well-positioned to capture this demand.

Today, Epic has grown into a healthcare IT behemoth with:

  • Billions of dollars in annual revenue
  • A staff of approximately 14,000 employees
  • Medical records for more than 325 million patients
  • More than 50% market share of U.S. hospital beds
  • Presence in 16 countries
  • 1,700+ hospitals and 34,000+ clinics using its EHR systems[24]

Epic Campus

One of the most distinctive aspects of Epic under Faulkner's leadership is its sprawling headquarters campus in Verona, Wisconsin, which has become a tourist attraction in its own right.[25]

The campus spans approximately 1,670 acres amid rolling fields and farmland about 10 miles southwest of Madison.[26] Rather than building conventional office buildings, Faulkner has created themed environments inspired by fantasy and children's literature—a reflection of her belief that a creative, playful work environment fosters innovation and attracts talented employees.

The themed buildings include:

Employees navigate the campus on "cow bikes"—bicycles decorated to look like cows, a nod to Wisconsin's dairy heritage.[28] The campus is open to the public for free, self-guided tours most days of the year.

Leadership philosophy

Faulkner's leadership approach is characterized by long-term thinking and customer focus. Epic operates according to "10 commandments" that are displayed throughout the campus, including:

  • "Do not go public"
  • "Do not acquire or be acquired"
  • "Software must work"[29]

"I don't want my staff thinking in terms of quarters," Faulkner has explained. "I want them thinking about the future—25 to 30 years from now. Most of all, I want the Epic teams to make decisions based on doing what's best for our customers."[30]

Government service

In 2009, President Barack Obama appointed Faulkner to the Health IT Policy Committee, where she served until 2014.[31] The committee advised the U.S. Department of Health and Human Services on policies to promote the adoption and use of health information technology.

Controversies

Interoperability criticism

Despite Epic's commercial success, the company has faced persistent criticism over interoperability—the ability of healthcare systems to exchange and use electronic health information with each other.[32]

Critics, including competitors, patient advocates, and some government officials, have accused Epic of creating a "walled garden" that makes it difficult for healthcare organizations using Epic systems to share data with those using competing products.[33] Oracle Corporation Executive Vice President Ken Glueck wrote in a blog post that "everyone in the industry understands that Epic's CEO Judy Faulkner is the single biggest obstacle to EHR interoperability."[34]

Patient advocacy groups have criticized Epic and other EHR vendors for failing to support data portability, arguing that the fragmented system "leaves doctors unable to trade information across practices or hospitals" and "hurts patients who can't be assured that their records—drug allergies, test results, X-rays—will be available to the doctors who need to see them."[35]

Faulkner has vigorously defended Epic's record on interoperability, stating: "I don't think there's any system more open than we are."[36] She has pointed to Epic's Care Everywhere platform, launched in 2008, which enables data exchange across Epic and non-Epic systems. "50% of our exchanges nowadays are with non-Epic and there's lots of other entities we go back and forth with," she has stated. "We do 9 million exchanges of patient records every day."[37]

Conflict with Biden administration

In 2017, Faulkner had a tense exchange with then-Vice President Joe Biden over patient access to medical records.[38]

According to Greg Simon, president of the Biden Cancer Initiative, Faulkner questioned the utility of giving patients access to their complete medical records. "Why do you want your medical records? They're a thousand pages of which you understand 10," she allegedly told Biden. "None of your business," Biden responded.[39]

Opposition to HHS data sharing rules

In January 2020, Epic came under criticism when CNBC reported that Faulkner had emailed CEOs of major hospitals urging them to oppose proposed HHS regulations designed to make it easier to share medical information.[40]

Faulkner argued that the proposed rules could undermine patient privacy and intellectual property protections, but critics viewed the opposition as an attempt to protect Epic's market position by making it harder for competitors to access health data.[41]

Personal life

Faulkner lives in Madison, Wisconsin, near the Epic campus. She is married to Gordon Faulkner, a pediatrician, and they have three children.[42]

Despite her enormous wealth, Faulkner is known for maintaining a relatively modest lifestyle. She continues to work at Epic well into her 80s, demonstrating a commitment to the company she founded more than four decades ago.

Philanthropy

Giving Pledge

In April 2015, Faulkner became a signatory to the Giving Pledge, the commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to giving back.[43] Faulkner committed to donate 99% of her assets to philanthropy—one of the highest percentages pledged by any signatory.

Roots & Wings Foundation

In 2019, Judy and Gordon Faulkner founded the Roots & Wings Foundation, which funds nonprofit organizations that serve low-income children and families.[44] The foundation focuses on:

  • Early childhood education and development
  • Family support services
  • Economic mobility programs
  • Healthcare access for underserved communities

Awards and recognition

  • Forbes "Most Powerful Woman in Healthcare" (2013)[45]
  • Forbes 55th Most Powerful Woman in the World (2023)[46]
  • Forbes America's Top 50 Women in Tech (2018)[47]
  • HIMSS "50 in 50" memorable contributors to healthcare IT[48]
  • Robert S. Glaser Award (2024), presented by the UTHealth Houston for contributions to healthcare informatics[49]
  • U.S. News Best Leaders 2025[50]

See also

References

  1. ↑ <ref>"Epic Systems company overview".Retrieved January 16, 2026.</ref>
  2. ↑ <ref>"Epic Systems market share".Retrieved January 16, 2026.</ref>
  3. ↑ <ref>"Epic Systems founding story".Retrieved January 16, 2026.</ref>
  4. ↑ <ref>"Faulkner: Epic will never go public".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  5. ↑ <ref>"Forbes names Faulkner most powerful woman in healthcare".2013.Retrieved January 16, 2026.</ref>
  6. ↑ <ref>"Judy Faulkner net worth".July 2024.Retrieved January 16, 2026.</ref>
  7. ↑ <ref>"Judy Faulkner Giving Pledge".April 9, 2015.Retrieved January 16, 2026.</ref>
  8. ↑ <ref>"Roots & Wings Foundation".Retrieved January 16, 2026.</ref>
  9. ↑ <ref>"Judy Faulkner biography".Retrieved January 16, 2026.</ref>
  10. ↑ <ref>"Faulkner's parents".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  11. ↑ <ref>"Faulkner childhood".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  12. ↑ <ref>"Moorestown Friends School notable alumni".Retrieved January 16, 2026.</ref>
  13. ↑ <ref>"Dickinson College notable alumni".Retrieved January 16, 2026.</ref>
  14. ↑ <ref>"UW-Madison computer science alumni".Retrieved January 16, 2026.</ref>
  15. ↑ <ref>"Warner Slack influence on Faulkner".Retrieved January 16, 2026.</ref>
  16. ↑ <ref>"Faulkner's early healthcare computing work".Retrieved January 16, 2026.</ref>
  17. ↑ <ref>"Epic Systems founding".Retrieved January 16, 2026.</ref>
  18. ↑ <ref>"Epic started in basement".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  19. ↑ <ref>"Epic's founding principles".Retrieved January 16, 2026.</ref>
  20. ↑ <ref>"Epic's early growth".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  21. ↑ <ref>"Epic reaches 100 clients".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  22. ↑ <ref>"Epic wins Kaiser Permanente contract".2003.Retrieved January 16, 2026.</ref>
  23. ↑ <ref>"HITECH Act impact on Epic".Retrieved January 16, 2026.</ref>
  24. ↑ <ref>"Epic Systems current scale".Retrieved January 16, 2026.</ref>
  25. ↑ <ref>"Tour Epic".Retrieved January 16, 2026.</ref>
  26. ↑ <ref>"Epic campus size".Retrieved January 16, 2026.</ref>
  27. ↑ <ref>"Epic's Wizard Academy".Retrieved January 16, 2026.</ref>
  28. ↑ <ref>"Epic's cow bikes".Retrieved January 16, 2026.</ref>
  29. ↑ <ref>"Epic's 10 commandments".Retrieved January 16, 2026.</ref>
  30. ↑ Template:Cite interview
  31. ↑ <ref>"Health IT Policy Committee members".Retrieved January 16, 2026.</ref>
  32. ↑ <ref>"Epic interoperability criticism".Retrieved January 16, 2026.</ref>
  33. ↑ <ref>"Epic walled garden criticism".Retrieved January 16, 2026.</ref>
  34. ↑ <ref>"Oracle executive criticizes Faulkner".Retrieved January 16, 2026.</ref>
  35. ↑ <ref>"Patient groups criticize Epic".Retrieved January 16, 2026.</ref>
  36. ↑ Template:Cite interview
  37. ↑ <ref>"Epic Care Everywhere".Retrieved January 16, 2026.</ref>
  38. ↑ <ref>"Faulkner-Biden exchange".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  39. ↑ <ref>"Biden to Faulkner: None of your business".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  40. ↑ <ref>"Epic CEO urges hospitals to oppose HHS rules".January 22, 2020.Retrieved January 16, 2026.</ref>
  41. ↑ <ref>"Epic opposes data sharing rules".Retrieved January 16, 2026.</ref>
  42. ↑ <ref>"Judy Faulkner personal life".{Template:Newspaper.Retrieved January 16, 2026.</ref>
  43. ↑ <ref>"Judy Faulkner signs Giving Pledge".April 9, 2015.Retrieved January 16, 2026.</ref>
  44. ↑ <ref>"Roots & Wings Foundation founding".Retrieved January 16, 2026.</ref>
  45. ↑ <ref>"Forbes most powerful woman in healthcare".2013.Retrieved January 16, 2026.</ref>
  46. ↑ <ref>"Forbes most powerful women 2023".2023.Retrieved January 16, 2026.</ref>
  47. ↑ <ref>"Forbes top women in tech".2018.Retrieved January 16, 2026.</ref>
  48. ↑ <ref>"HIMSS 50 in 50".Retrieved January 16, 2026.</ref>
  49. ↑ <ref>"Faulkner receives Glaser Award".Retrieved January 16, 2026.</ref>
  50. ↑ <ref>"Best Leaders 2025: Judy Faulkner".Retrieved January 16, 2026.</ref>

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