13 Sep Epic reveals R&D spending outstrips Apple, Google and its competitors
Epic Systems founder Judy Faulkner told Healthcare IT News in a recent interview at the company’s headquarters that the EHR giant invests 50 percent of its operating expenses on research and development.
She pointed out that three rival health IT companies spend less, with Allscripts coming in at 34 percent, Cerner at 19 percent and athenahealth at 10 percent—numbers that Healthcare IT News verified in SEC filings.
As a private company, Epic does not have to file an income statement as the publically traded companies like her competitors are required to do. So Faulkner cut to the chase. “I know what we spend,” she said.
A 50 percent R&D total would not only outpace Epic’s direct competitors in the EHR realm, but it would also surpass many big name public technology companies including Amazon, Apple and Google — at least when measured as a percentage of operating expenses.