Judy Faulkner Biography: The Visionary Founder Behind Epic Systems’ Healthcare Revolution
Quick Facts
Full Name: Judith R. Faulkner
Date of Birth: August 11, 1943 (Age: 81)
Nationality: American
Judy Faulkner Net Worth: $7.8 billion (as of May 20, 2025)
Residence: Madison, Wisconsin
Primary Business: Founder and CEO, Epic Systems Corporation
Industry: Healthcare Software, Technology
Early Life and Education
Judy Faulkner was born and raised in the Erlton area of Cherry Hill, New Jersey. From an early age, she demonstrated a keen aptitude for problem-solving and mathematics. Influenced by her parents—her mother was involved in medical social responsibility and her father a pharmacist—Faulkner developed an interest in medicine combined with her passion for computing. She earned a Bachelor’s degree from Dickinson College and a Master’s in Science from the University of Wisconsin–Madison.
Career Beginnings
Judy Faulkner started Epic Systems in 1979 from a basement with $70,000 in startup capital and just two part-time assistants. Originally named Human Services Computing, the company was founded with the goal of revolutionizing how medical records were stored and shared. Faulkner’s background as a computer programmer drove the company’s early development of proprietary healthcare software. Epic initially focused on small medical practices before expanding its reach to larger hospitals and medical centers.
Rise to Wealth
Under Faulkner’s leadership, Epic grew steadily to become a dominant force in healthcare IT. By the late 1990s, the company had established itself as the go-to provider for electronic health records in the United States. Epic’s software now supports over 250 million patients worldwide and is used by top-tier medical institutions including Johns Hopkins, the Mayo Clinic, and the Cleveland Clinic. Faulkner’s hands-on approach and refusal to compromise on quality helped Epic become a multibillion-dollar enterprise, with revenues reaching $4.9 billion in 2023.
How She Made Her Fortune
Faulkner’s wealth is almost entirely derived from her 47% ownership of Epic Systems. Unlike many tech companies, Epic has never taken on venture capital or made acquisitions, choosing instead to develop all its software in-house. This unique strategy has allowed the company to maintain full control over its products and culture. Epic’s software solutions include electronic health records, revenue cycle management, and patient engagement tools, serving thousands of healthcare providers across the US and abroad.
Major Achievements
Judy Faulkner has been widely recognized as a pioneer in healthcare technology. She has received numerous awards including the lifetime achievement award from the College of Healthcare Information Management Executives and has been named one of the 100 Most Influential People in Healthcare by Modern Healthcare. Forbes consistently ranks her among the richest self-made women in America.
Philanthropy and Social Impact
In 2015, Faulkner signed the Giving Pledge, committing to donate 99% of her wealth to charitable causes through a private foundation. Though she keeps her philanthropic activities relatively private, her commitment to improving healthcare systems and patient outcomes is evident through Epic’s innovations and partnerships.
Personal Life and Interests
Judy Faulkner lives in Madison, Wisconsin, where Epic’s headquarters is located. She is known for her privacy and low public profile, rarely giving interviews. Faulkner is married and has three children. In recent news, she donated $10 million to the University of Wisconsin’s computer science program to foster future generations of innovators. Though details about her lifestyle are sparse, her modesty and focus on work have shaped her reputation as a dedicated entrepreneur rather than a celebrity business figure.
Business Philosophy and Strategies
Judy Faulkner’s approach to business is rooted in independence, innovation, and employee satisfaction. She famously wrote the original code for Epic’s software herself, and today the company supports the medical records of over 250 million patients. Epic is trusted by leading medical institutions such as Johns Hopkins and Mayo Clinic, with Faulkner maintaining a 47% ownership stake.
One of her core philosophies is to bootstrap growth rather than rely on outside investors or Wall Street financing. Faulkner has consistently rejected venture capital and acquisitions, prioritizing control over rapid expansion. This strategy led to a notable disagreement with co-founder John Greist, who advocated for venture funding. Faulkner’s steadfast decision to retain ownership and control has proven successful, reinforcing her belief in sustainable, organic growth.
Curiosity and problem-solving are central to her leadership style. She traces her love for mathematics and puzzles back to her school days, viewing computer programming as the "clay of the mind"—a medium for creativity and innovation.
Faulkner also places great importance on employee happiness. Epic’s corporate campus is famously whimsical, featuring unique attractions such as a Hogwarts-inspired Great Hall and a treehouse. Her commitment to creating a fun, engaging workplace aligns with the company’s motto: “Do good. Have fun. Make money.” This positive environment fosters productivity and loyalty.
Even now, as she nears 80, Faulkner remains passionate about her work. She has no plans to retire, stating she will continue as long as she can contribute effectively and bring value to the company.
Challenges and Controversies
While Faulkner has maintained a relatively low profile, Epic Systems has faced scrutiny over data privacy and interoperability issues common in healthcare IT. Despite these challenges, Epic continues to lead the industry with strong client retention and product innovation.
Current Focus and Future Plans
Recently, Judy Faulkner announced plans to expand Epic’s reach into AI-driven healthcare solutions, aiming to enhance predictive analytics and patient care personalization. The company is investing heavily in research to integrate artificial intelligence into electronic health records to improve clinical decision-making and operational efficiency. Faulkner remains at the helm as Epic pioneers new frontiers in healthcare technology, focusing on both innovation and maintaining the company’s unique culture.
Favorite Quote
“One of the things that made Epic strong when I wrote the original code was that it never occurred to me to do anything other than put the patient at the center.”
People Also Ask
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What do Judy Faulkner's kids do?
Judy Faulkner has three children. Her youngest daughter, Shana Dall’Osto, serves as the executive director of the Roots & Wings Foundation, a nonprofit organization focused on supporting low-income children and families. -
How did Judy Faulkner create Epic?
Faulkner co-founded Epic Systems in 1979 with a $70,000 investment from friends and family. She wrote the original software code herself, and the company began in a basement in Madison, Wisconsin. -
How did Judy Faulkner make her money?
Faulkner's fortune is primarily derived from her 47% ownership of Epic Systems, a leading provider of electronic health records. The company has grown to support the medical records of over 250 million patients globally. -
Where does Judy Faulkner live?
Judy Faulkner resides in Madison, Wisconsin, where Epic Systems is headquartered. She maintains a low public profile and is known for her privacy.
