Latest news with #EpicSystems
Yahoo
13 hours ago
- Business
- Yahoo
82-year-old CEO grew a $7.8 billion fortune from company shares—now she's selling stock to charity and signed Bill Gates' pledge to give away 99%
The 82-year-old CEO of Epic Systems, Judy Faulkner, boasts a $7.8 billion fortune from owning 43% of the tech company—yet says she's 'never cashed a single share' for herself. The Silent Generation leader, who has signed Bill Gates' Giving Pledge, instead pours the profits from selling her nonvoting shares into charity. Her unconventionality bleeds into her leadership, too, as Faulkner holds monthly 'work church' meetings, complete with grammar lessons, inside her themed office buildings. CEOs with major controlling stakes in their billion-dollar companies have the power to make themselves richer and richer, but one 82-year-old tech leader isn't cashing in for herself. Judy Faulkner, the CEO of Epic Systems, has been selling her nonvoting shares back to the company—and redirecting the profits elsewhere. 'I've never cashed a single share for myself,' Faulkner recently told CNBC. On paper, Faulkner is worth $7.8 billion, thanks to her 43% stake in Epic. The health software firm is one of the largest private tech players in the U.S., pulling in $5.7 billion in annual revenue. But the CEO, a member of the Silent Generation, isn't looking to grow her nest egg. In fact, she's trying to get rid of it. In 2015, Faulkner signed the Giving Pledge (a philanthropic organization helmed by Bill Gates and Melinda French Gates) and dedicated to give away 99% of her wealth to charitable causes. The Epic leader told CNBC she is pouring the profits from her stock sales to Roots & Wings, a family foundation she launched with her husband that provides grants to nonprofits that support low-income children and families. In 2020, Roots & Wings granted $15 million to 115 organizations around the U.S. focused on the health, education, and well-being of families, and last year Faulkner's foundation estimated it would give $67 million to 305 organizations, according to Forbes. But the Epic CEO is determined to off-load more of her wealth faster, steadily increasing giving rates until Roots & Wings reaches its goal of $100 million every year as early as 2027. To manage the massive outflow of her money from selling Epic shares, Faulkner set up a trust to govern the stock sell-back process in order to not destabilize the company. Only nine of the 256 billionaires who signed the Giving Pledge are actually following through with their promise. Fortune reached out to Epic Systems for comment. Monthly 'work church' meetings and grammar lessons in themed Epic buildings While billionaire interest in signing the Giving Pledge has waned in recent years as many CEOs, including Elon Musk and Jeff Bezos, hoard their fortunes, Faulkner is marching to the beat of her own drum. And that's not the only way she's defying conventional leadership in the tech world. The CEO described as a 'female cross between Bill Gates and Willy Wonka' by UMass Memorial Health leader Eric Dickson is bringing play and grammar lessons to her 14,000 employees. Epic Systems' massive 1,670-acre campus in Wisconsin is nothing like the futuristic or modern headquarters of other billion-dollar Silicon Valley tech companies. Each of the 28 buildings on the company's sprawling campus has a fantastical theme, ranging from The Wizard of Oz and Alice in Wonderland to the Harry Potter franchise. They're then grouped into mini campuses, including Prairie Campus, Wizards Academy, and Storybook Campus, with the offices designed by architecture business Cuningham, which also worked on the Disney theme parks. The grounds are adorned with a metal wizard standing guard of a castle, chocolate chips leading to a fake chocolate factory, and a hanging bridge that leads to a tree house. And inside, the rooms are filled with tchotchkes and paintings that Epic employees help source with Faulkner at local arts fairs. And once a month inside Epic's underground auditorium, called Deep Space, the business holds a mandatory staff meeting. According to CNBC, some employees jokingly call the get-together 'work church,' when executives run through Epic's business news and targets. But Faulkner also likes to throw a twist in the typical boring all-hands meeting by having a grammar lesson, teaching language lessons like when to use 'who' or 'whom.' Other companies with unique offices and unconventional meeting philosophies Epic Systems isn't the only company with an office setup unlike most others. Nonprofit health care provider Wellstar Health System doesn't try to keep workers happy with Ping-Pong tables and beer on tap. The Fortune 500 company's offices include 'wellness rooms,' complete with massage chairs, relaxing music, and healthy snacks to keep its 28,000 workers happy. The offerings have proved popular with employees, as turnover fell by 10% in 2024. Understood, a nonprofit that provides resources to people and families who are neurodivergent, designed its office specifically for the employees who work there and the clients it serves. Its space has something for everyone; one side of the floor has traditional white overhead lighting, while the other side has more muted yellow lighting. The office also has different zones with designated thermal controls, so employees can work in the temperatures they prefer. Also, staffers with hearing impairments were factored into the equation, as the floor has an assistive listening system that connects to their cochlear implants. And other CEOs don't like their meetings to be so buttoned-up, just like Faulkner. Amazon founder Bezos thrives in chaos; the tech leader said he only wants 'crisp documents' and 'messy meetings' that go in all different directions. Bezos encouraged his workers to show the 'ugly bits' of decision-making in these meetings—and despised the conversations being 'rehearsed' ahead of time. 'I'm very skeptical if the meetings are not messy,' Bezos said at the 2024 New York Times DealBook Summit. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
2 days ago
- Business
- National Post
CitiusTech Acquires Health Data Movers, Enhances Healthcare Provider Offerings With Epic Implementation Capabilities
Article content PRINCETON, N.J. — CitiusTech, a leading provider of healthcare technology, services & solutions, today announced that it has acquired Health Data Movers, a Best in KLAS healthcare technology services firm, with deep expertise in Epic Systems, Workday, ServiceNow and other core healthcare platforms. Article content As healthcare providers work to improve quality of care and deliver more connected patient and clinician experiences, they face the challenges of unifying complex technology ecosystems while accelerating innovation. The rapid rise of Agentic AI, Cloud, and AI Scribes has only heightened the need for seamless integration into the core systems clinicians and staff use every day. Epic, as the digital backbone of many healthcare providers, has been central to this transformation, driving digital adoption, enabling interoperability, and opening new pathways to embed advanced analytics and AI directly into clinical workflows. Article content The combination of CitiusTech's AI, data, and automation solutions and Health Data Movers' deep integration expertise, creates a unique ability to embed intelligence and automation directly into core operational platforms such as EMR, ITSM and ERP. By bringing advanced digital capabilities directly into the daily workflows that health systems trust, this approach minimizes change management risks, and delivers scalable, end-to-end solutions that enable Providers to achieve greater efficiency, quality, and impact in patient care. Article content 'This is a pivotal moment and huge opportunity for CitiusTech and Health Data Movers, as we meet the demands of a rapidly transforming healthcare landscape. By combining forces, we are redefining the path to seamless integration, and infusing AI and intelligent automation into clinical operations. Together, we empower our customers to unlock transformative efficiencies, deliver connected patient care, and accelerate innovation, all within the systems they trust. This partnership strengthens CitiusTech's position as a strategic partner across the healthcare ecosystem,' said Rajan Kohli, CEO, CitiusTech. By bringing Health Data Movers' Epic implementation and integration expertise into CitiusTech's portfolio, this partnership has the ability to operate at the very core of the Epic ecosystem, solving some of healthcare's most critical challenges. Article content 'At Health Data Movers, our commitment has always been to empower patients and providers by harnessing the potential of data and technology,' said Tyler Smith, CEO, Health Data Movers. 'Joining forces with CitiusTech allows us to pair that expertise with unmatched scale, advanced technologies, and expanded capabilities. Together, we can deliver future-ready solutions, that not only improve patient outcomes and lower costs, but also redefine how patients and providers fully benefit in an AI-powered healthcare ecosystem.' Article content CitiusTech and Health Data Movers share a vision of advancing healthcare through human-centered technology, operational excellence, and trusted partnerships. Article content Founded in 2012, Health Data Movers is a US-based, specialized healthcare IT services firm, with a mission to empower patients and Providers by unleashing the potential of healthcare data and technology. They are trusted partners to healthcare organizations, biotechnology companies, and digital health enterprises, delivering unique, data-driven solutions through their Data Management, Integration, Project Management and Clinical & Business Applications services. Health Data Movers brings with it a highly skilled team of healthcare technology professionals with deep expertise in large-scale EMR program delivery, clinical workflows, and operational transformation. Article content Health Data Movers was advised on this transaction by Equiteq. Article content About CitiusTech Article content CitiusTech Article content is a global technology services, consulting, and business solutions enterprise 100% focused on the healthcare and life sciences industry. We enable 140+ enterprises to build a human-first ecosystem that is efficient, effective, and equitable. Leveraging deep domain expertise and next-generation technologies including AI, Cloud, Data, and Intelligent Automation, we assist our clients in realizing their vision, accelerate transformation, and achieve business outcomes. With over 8,500 healthcare technology professionals worldwide, CitiusTech powers digital innovation, business transformation, and industry-wide convergence through next-generation technologies, solutions, and products. Follow CitiusTech on Article content . Article content Health Data Movers Article content (HDM) is a 'Best in KLAS' healthcare technology services firm. They are trusted partners to healthcare organizations, biotechnology companies, and digital health enterprises through their Services – Data Management, Integration, Project Management, and Clinical & Business Applications – they are the smart choice for creating unique solutions that empower patients and providers by unleashing the potential of healthcare data and technology. Recognized as a leader in the industry, HDM has been named to the Inc. 5000 list six times (2020, 2021, 2022, 2023, 2024, 2025). Additionally, HDM was honored as one of the 'Best Firms to Work For' by Consulting Magazine in 2020 and 2025. Article content Article content Article content
Yahoo
2 days ago
- Business
- Yahoo
82-year-old CEO grew a $7.8 billion fortune from company shares—now she's selling stock to charity and signed Bill Gates' pledge to give away 99%
The 82-year-old CEO of Epic Systems, Judy Faulkner, boasts a $7.8 billion fortune from owning 43% of the tech company—yet says she's 'never cashed a single share' for herself. The silent generation leader, who has signed Bill Gates' The Giving Pledge, instead pours the profits from selling her non-voting shares into charity. Her unconventionality bleeds into her leadership too, as Faulkner holds monthly 'work church' meetings, complete with grammar lessons inside her themed office buildings. CEOs with major controlling stakes in their billion-dollar companies have the power to make themselves richer and richer, but one 82-year-old tech leader isn't cashing in for herself. Judy Faulkner, the CEO of Epic Systems, has been selling her non-voting shares back to the company—and redirecting the profits elsewhere. 'I've never cashed a single share for myself,' Faulkner recently told CNBC. On paper, Faulkner is worth $7.8 billion, thanks to her 43% stake in Epic. The health software firm is one of the largest private tech players in the U.S., pulling in $5.7 billion in annual revenue. But the CEO, who was born in the silent generation, isn't looking to grow her nest egg—in fact, she's trying to get rid of it. In 2015, Faulkner signed The Giving Pledge (a philanthropic organization helmed by Bill Gates and Melinda French Gates) and dedicated to give away 99% of her wealth to charitable causes. The Epic leader told CNBC she is pouring the profits from her stock sales to Roots & Wings, a family foundation she launched with her husband that provides grants to non-profits that support low-income children and families. In 2020, Roots & Wings granted $15 million to 115 organizations around the U.S. focused on the health, education, and wellbeing of families; and last year Faulkner's foundation estimated it would give $67 million to 305 organizations, according to Forbes. But the Epic CEO is determined to offload more of her wealth faster, steadily increasing giving rates until Roots & Wings reaches its goal of $100 million every year as early as 2027. To manage the massive outflow of her money from selling Epic shares, Faulkner set up a trust to govern the stock sell-back process in order to not destabilize the company. Only nine of the 256 billionaires who signed the Giving Pledge are actually following through with their promise. Fortune reached out to Epic Systems for comment. Monthly 'work church' meetings and grammar lessons in themed Epic buildings While billionaire interest in signing The Giving Pledge has waned in recent years as many CEOs including Elon Musk and Jeff Bezos hoard their fortunes, Faulkner is marching to the beat of her own drum. And that's not the only way she's defying conventional leadership in the tech world. The CEO described as a 'female cross between Bill Gates and Willy Wonka' by UMass Memorial Health leader Eric Dickson is bringing play and grammar lessons to her 14,000 employees. Epic Systems' massive 1,670-acre campus in Wisconsin is nothing like the futuristic or modern headquarters of other billion-dollar Silicon Valley tech companies. Each of the 28 buildings on the company's sprawling campus has a fantastical theme, ranging from The Wizard of Oz, to Alice in Wonderland, to the Harry Potter franchise. They're then grouped into mini campuses, including Prairie Campus, Wizards Academy, and Storybook Campus, with the offices designed by architecture business Cuningham, which also worked on the Disney theme parks. The grounds are adorned with a metal wizard standing guard of a castle, chocolate chips leading to a fake chocolate factory, and a hanging bridge that leads to a treehouse. And inside, the rooms are filled with chachkis and paintings that Epic employees help source with Faulkner at local arts fairs. And once a month inside Epic's underground auditorium, called Deep Space, the business holds a mandatory staff meeting. According to CNBC, some employees jokingly call the get-together 'work church,' when executives run through Epic's business news and targets. But Faulkner also likes to throw a twist in the typical boring all-hands meeting by having a grammar lesson, teaching language lessons like when to use 'who' or 'whom.' Other companies with unique offices and unconventional meeting philosophies Epic Systems isn't the only company with an office set-up unlike most others. Non-profit health care provider Wellstar Health System doesn't try to keep workers happy with ping pong tables and beer on tap. The Fortune 500 company's offices include 'wellness rooms,' complete with massage chairs, relaxing music, and healthy snacks to keep its 28,000 workers happy. The offerings have proved popular with employees, as turnover fell by 10% in 2024. Understood, a nonprofit that provides resources to people and families who are neurodivergent, designed its office specifically for the employees who work there, and the clients it serves. Its space has something for everyone; one side of the floor has traditional white overhead lighting, while the other side has more muted yellow lighting. The office also has different zones with designated thermal controls, so employees can work in the temperatures they prefer. Also, staffers with hearing impairments were factored into the equation, as the floor has an assistive listening system that connects to their cochlear implants. And other CEOs don't like their meetings to be so buttoned-up, just like Faulkner. Amazon founder Bezos thrives in chaos; the tech leader said he only wants 'crisp documents' and 'messy meetings' that go in all different directions. Bezos encouraged his workers to show the 'ugly bits' of decision-making in these meetings—and despised the conversations being 'rehearsed' ahead of time. 'I'm very skeptical if the meetings are not messy,' Bezos said at the 2024 New York Times DealBook Summit. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 days ago
- Business
- Forbes
Electronic Health Record Giant Epic Rolling Out New AI Tools
Epic Systems is launching several new artificial intelligence tools for medical care providers and patients while working with health insurers to improve the patient experience. Epic, which has been led by its 82-year-old founder Judy Faulkner for 46 years is best known for its dominance in the electronic health record software space, is pushing deeper into AI in a healthcare industry known for its complexities, fragmentation and consumer frustration. Epic's technology is already used be more than 3,000 hospitals, more than 71,000 clinics and some 325 million patients worldwide. Meeting this week at its Verona, Wis., headquarters for its annual users group meeting, Epic executives said the AI tools will help all aspects of healthcare and include the virtual assistant 'Emmie' that can act as a 'digital concierge' that answers patient questions a week before appointments to help improve patient education. The three-day meeting, which included a three-hour presentation Tuesday open to the press at headquarters and virtually, included exchanges and role play between employees acting as patients and providers. As one example, executives talked about a broader launch of Emmie virtual assistant for scheduling and understanding visits to providers. 'Available in the future, Emmie will answer his call with voice and to provide billing assistance and will make outbound calls to help him schedule his appointment," Karsten Smith, VP of Health Plan Applications said Tuesday of a potential patient experience with the virtual assistant. Epic's well-known MyChart patient portal that is already used by millions of people, doctor's offices and health systems will be adding AI features that include the ability for patients to get questions about test results answered. Meanwhile, Epic is also working on ways to reduce 'manual chart extraction' that takes up valuable clinician time the company said will help improve patient care and help alleviate medical care provider burnout. The AI tool will extract a summary for a doctor so the physician wouldn't have to scroll through years worth of records, potentially. And a new area for growth for Epic is working with some of the nation's largest health insurance companies, including several who met with Faulkner and her team earlier this year. A tool to help with coding and writing prior authorizations and making sure that the patient meets any medical criteria for prior authorizations is being adopted by health insurers. The AI tool includes ways to let the doctor know the patient meets all of the health plan or employer criteria for coverage. Doctors complain prior authorization has delayed needed treatment and put patient health in jeopardy while wasting physician and patient time to jump through hoops. Over the past several years, prior authorization increasingly has become a concern for patient access to needed services, according to almost 30% of physicians responding to an American Medical Association survey in 2023. Epic's work with health insurance companies comes in a year that more than 50 health insurers including Cigna, CVS Health's Aetna, UnitedHealth Group's UnitedHealthcare and Humana committed to 'streamline, simplify and reduce' prior authorization, the process of insurers reviewing hospital admissions and medications.
Newsweek
2 days ago
- Health
- Newsweek
Epic UGM 2025: Live Updates From Verona, Wisconsin
Electronic health records (EHRs) are one of the most critical parts of a health system's operations. Since they store patient records, EHRs are treasure troves of data and insights that are becoming increasingly valuable with the development of new AI tools. EHRs are also core to the provider and employee experience. They have arguably increased the reporting burden for doctors and nurses since their implementation. Health system leaders and EHR developers are tasked with making these necessary systems as user-friendly as possible so that clinicians can focus on patient care. Epic Systems is currently the leading EHR vendor with a market share of more than 37 percent, according to Definitive Healthcare. From August 18 through August 21, 2025, Epic is hosting health care executives, clinicians, IT professionals, partners and other industry stakeholders at its annual User Group Meeting (UGM). Members of the media were invited to Epic's sprawling headquarters in Verona, Wisconsin, on August 19. Follow Newsweek's live blog for updates throughout the day.
