#8: Epic Systems Corporation Grows!
Epic is a privately held healthcare software company that specializes in hosting and connecting electronic health records (EHR). By digitizing health records, Epic unleashes the ability for healthcare systems to improve quality, significantly reduce fraud, waste, and abuse transforming the practice of medicine.
Epic’s total gross revenue was projected to be $1.8 billion in 2014. Their services and software consistently receives high marks and positive reviews from KLAS. Additionally, Epic touts that fact that 72% of Stage 7 U.S. Hospitals and 85% of Stage 7 Clinics use Epic services. The stage 7 distinction is only bestowed upon environments where paper charts are no longer used to deliver patient care. Their Glassdoor review shows positive feedback scoring 3.7 out of 5 with 83% approval for Judith Faulkner, the Founder and CEO.
Here are some of reasons they are one of the top 10 healthcare story this year:
- With 355 clients they have transfered more than 15.3 Million Patient Records.
- Walgreens selected them as their EHR vendor for the 400 in-store healthcare clinics in October 2015
- The Mayo Clinic drop Cerner and GE Healthcare contracts and selected Epic as an EHR vendor in January 2015.
- Epic entered into a $1.2 billion implementation of their software with Partners HealthCare based in Boston.
- In another deal where Epic beat out Cerner’s platform, Erlanger Health System signed on with Epic for a contract nearing $100 million.
- Epic Systems accounts for nearly 186,000 (30% market share) of the meaningful use attestations submitted to the Center of Medicare & Medicaid for EHR incentive payments.