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Epic Systems (MyChart)

Overview

Shownote

Highlights

Transcript

Chapters

Pins

Epic Systems (MyChart)

Acquired

Apr 21
Acquired

Acquired

Apr 21
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

What if we told you that the most important company in US healthcare was run from a farm in rural Wisconsin? And that farm contained the world’s largest subterranean auditorium, as well as Disneyland—style replicas of Hogwarts and the Emerald City? What if...

Highlights

Epic Systems, a software giant headquartered in rural Wisconsin, plays an integral role in the U.S. healthcare system. Founded by Judy Faulkner, this privately-held company has revolutionized electronic medical records with its MyChart application and comprehensive hospital management solutions. Its unique business model emphasizes customer focus and innovation while avoiding public markets or acquisitions.
27:37
Epic uses a modern descendant of MUMPS, called Cache, as its de facto standard.
40:25
Epic started with only $70,000 in equity and $70,000 in debt.
1:04:25
MyChart was cutting-edge, allowing patients remote access to medical records.
1:24:19
Epic's team pulled an all-nighter to model Kaiser's transaction flow in Excel.
1:46:39
Epic emphasizes bug-free software due to the high stakes in healthcare.
2:09:16
Interoperability in healthcare is hindered by complex systems and business interests.
2:20:19
Data interoperability was not prioritized in legislation, favoring Epic.
2:44:02
Epic secured all top 20 academic hospitals in U.S. News rankings.
2:58:33
Cosmos provides free access to anonymized data for contributing customers.
3:27:11
Judy Faulkner's leadership is a key factor in Epic's success.
3:46:40
Epic is considered the most valuable vertical market software company globally.

Chapters

How Did a Rural Farmhouse Spawn a Healthcare Revolution?
00:00
From Teaching Herself Fortran to Building a Tech Empire
31:11
Expanding Beyond Clinical Records: The Birth of Epicare
51:47
Winning Big with Kaiser Permanente: A Turning Point
1:10:04
A Whimsical Campus Cultivates High-Trust Culture
1:32:55
Standardizing Care Through Customer-Focused Strategy
1:55:12
HITECH Act Sparks Widespread Adoption but Brings Challenges
2:11:58
Epic vs. Cerner: Competing Visions in Healthcare IT
2:34:46
Scaling Globally While Harnessing Data for Better Outcomes
2:49:39
Unpacking Epic’s Unique Business Model and Market Power
3:10:37
Can AI Transform the Future of Electronic Health Records?
3:32:50

Transcript

Ben Gilbert: The answer is somewhere in the middle. David Rosenthal: Well, you texted me last night that you've made it to Singapore. Ben Gilbert: I made it to Singapore, yes. Anytime you are researching anything in U.S. Healthcare, you know it is time t...