Medical Debt Purchaser Wins Innovation Award

The Johnson Center for Entrepreneurship & Innovation at Indiana University’s Kelley School of Business recognized Indiana companies for their entrepreneurial achievements at a dinner and awards banquet Thursday (October 20) at the Indiana Roof Ballroom in Indianapolis.

Senex Services Corp. was named a winner in the Innovation category.

Senex was founded in 1998, and currently employs 70 people. Kyle E. Lanham, President and co-founder of the Company, stated: “It is quite an honor to be identified by the I.U. Kelley School of Business and the Johnson Center for Entrepreneurship, as one of Indiana’s distinguished entrepreneurial companies. We are very proud of our employees and we hope to continue to grow and innovate in the healthcare finance field.”

In its inaugural year, the Indiana Entrepreneurial Awards of Distinction honors entrepreneurial companies for their growth, innovation, and willingness to take calculated risks.

Senex was a winner in the Innovation category. To be eligible for the award, the company had to pioneer new systems, bring new products to the market and/or create and develop “best practices” for the industry. Addressing these criteria, R. Matthew Neff, Chairman and co-founder of Senex, stated: “When we started purchasing self-pay healthcare receivables, very few hospitals had ever considered that possibility. Today, selling self-pay receivables is becoming commonplace, and the market is growing at a rapid rate. We plan to develop more products and programs to help healthcare providers manage their self-pay receivables, which continue to grow in volume as third party payors reduce their reimbursement rates.”

The Johnson Center established these awards to honor those companies that evidence a renewed spirit of entrepreneurship in Indiana. “These entrepreneurial companies have a strong impact on the state, not only economically but also through employment and community development”, stated Donald F. Kuratko, executive director of the Johnson Center for Entrepreneurship and Innovation.