As you may know, Judy Faulkner founded Epic Systems Corp and still is its CEO. In doing so, she’s transformed how we think about and use health care technology in the United States. Her company, which employs 14,000 individuals, provides software used in over 3,300 hospitals and 71,000 clinics, serving approximately 325 million patients worldwide. With a unique leadership style and a strong commitment to philanthropy, Faulkner exemplifies a modern-day business leader who prioritizes ethical decision-making and social responsibility.
Faulkner’s foray into the tech world began when she discovered her passion for math. That tinkering passion started for her in seventh grade after her math teacher started drawing fun and exciting puzzles on the blackboard. She developed this passion further at the University of Wisconsin–Madison, where she was admitted into its computer science program—one of the first in the nation. Her career took off when she created a more effective system for tracking and sharing patient information. Not surprisingly, this pioneering endeavor culminated in the eventual founding of Epic Systems.
In 2015, Faulkner took a deeper plunge into philanthropy, signing The Giving Pledge. She famously promised to give away 99% of her riches to philanthropic activities. In 2020, she and her husband started a family foundation, Roots & Wings. Their mission is to bring grant resources to nonprofit organizations that directly benefit low-income children and families. To prevent political interference, she set up an oversight board called The Trust Protector Committee. This committee is comprised of three health-care luminaries who are in the trenches using Epic’s technology every day.
Yet, given her industry-defining influence, Faulkner has been notably tight-lipped about her successor. She is, however, adamant that the future leader of Epic should be a software developer. Moreover, this leader needs to have deep tenure at the company. This focus on homegrown talent speaks to her prioritization on continuity and expertise within the organization.
That’s not how Faulkner’s wealth increases, unlike most other tech founders. That’s because Epic Systems is still a privately held company. She has refused to raise venture capital or take the company public, convinced that those moves would mean selling out on the company’s integrity. “Why be owned by people whose interest is primarily return of equity?” she questioned during her interview.
Through that lens, traditional business practices have fallen prey to an imbalanced approach where profit always comes before purpose. Faulkner remarked on how the focus on investments can distort priorities, stating, “They were vitriolic, in many cases, because the only thing they were looking at was return on their investment.” Instead, she argues that software should ideally be designed to effectively serve its intended users without the competing priorities of outside funders driving project decision-making.
Her unorthodox approach to management carries over to Epic’s operational philosophy. Faulkner has famously declared, “Do not go public. Do not acquire or be acquired. Software must work.” This mantra underscores her commitment to ensuring that Epic remains focused on its mission rather than succumbing to external pressures.
Under Faulkner’s leadership, the agency has inspired comparisons to some of the most effective and disruptive technology innovators. Dr. Eric Dickson noted, “I’ve described her as a female cross between Bill Gates and Willy Wonka,” capturing both her innovative spirit and her philanthropic vision. Warner Thomas recounted an instance that exemplifies Faulkner’s hands-on approach: “I went down the slide, like everybody,” highlighting her connection with employees.
Even more than her business success, Faulkner finds her muse in her personal life. Reflecting on her mother’s legacy as a protestor who faced imprisonment in her 80s for advocating against nuclear arms, Faulkner stated, “Sometimes when I do something that’s tough, I think of my mother… and I think, ‘I’m my mother’s daughter.’” This family legacy inspires her to take on adversity with relentless motivation.