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Freakonomics Radio

672. What Makes Judy Faulkner Run?

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.532.8K Ratings

🗓️ 24 April 2026

⏱️ 61 minutes

🧾️ Download transcript

Summary

Epic Systems manages the electronic health records for hundreds of millions of people. This makes Faulkner a healthcare heavyweight and one of the most successful female entrepreneurs in history. So why haven’t we ever heard much from her? Stephen Dubner travels to Verona, Wisc., to explore the Faulknerverse.

Transcript

Click on a timestamp to play from that location

0:00.0

In the rolling hills of Verona, Wisconsin, just outside of Madison and far from the usual software epicenters, you will find one of the biggest tech campuses in the United States.

0:14.9

It is home to a company called Epic Systems. You may not know Epic, but there is a very good chance that they know you. Over 80% of

0:22.9

Americans have at least one electronic health record with Epic. If you've ever used my chart,

0:28.9

that's Epic. They make the software used by many of the biggest and best healthcare systems

0:34.0

in the U.S. and they now operate in 15 other countries, too.

0:38.0

Epic does have rivals like Oracle and Metatech, but for decades it has been the biggest player

0:43.8

in this industry.

0:45.2

The campus sits on 1,700 acres.

0:47.9

There is an underground auditorium that seats 11,000.

0:51.5

There are playful sculptures all around, and the inside of the office buildings are

0:56.0

dressed like movie sets. Alice in Wonderland, Harry Potter, The Wizard of Oz. So who's

1:02.8

the wizard behind the curtain at Epic? Judy Faulkner, also known as Judith Ruth Faulkner,

1:08.7

and if you take away my middle name, I'm ruthless.

1:12.9

Faulkner founded Epic in 1979 and is still the CEO. Epic is an unusual company. And as you

1:20.5

will hear today, Faulkner is an unusual leader. But I'm not sure that ruthless is the right

1:26.8

word. I've got one house, one husband.

1:32.0

One dog. One dog. I would want more than one dog, but husband does not. One car. What's your car?

1:41.3

I have a 2016 Tesla.

1:44.6

I like it self-driving.

1:46.5

I find that between it and me together, we're better than either alone.

1:51.5

Which software is more reliable at updating regularly?

1:55.7

Your Tesla software or Epic?

...

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