Innovative Billing Solutions, Inc. rebrands to “Vaytiv Payment Solutions, Inc.” but they will simply go by “Vaytiv.”
We sat down with VP of Sales and Marketing, Ramsey White, to learn why they chose to update their name, what “Vaytiv” means, and what we can expect from the company soon.
“We are very excited about our new name. ‘Vaytiv’ is a perfect word to describe who we are, what we do, and why it matters in 2023. We want to make it clear to the marketplace we specialize in patient payment services.”
So, why did Darryl feel now was the time to rebrand the company after operating as Innovative Billing Solutions, Inc. for over 20 years?
“That’s a great question. Last year, Darryl and I sat down in his office after several practice administrators informed us the word ‘Billing’ in our name (Innovative Billing Solutions, Inc.) created confusion in the marketplace. The word ‘Billing’ in a medical context implies insurance billing; however, we have never offered insurance billing services and have no intention of pursuing currently.
After meeting with Darryl, we decided a new, fresh name would better communicate the services we offer including traditional paper statements, e-statements, online payments, text/email payments, in-office payments, and up to 9 ways for patients to pay their bill. To put it simply, we notify a patient when they have a balance and provide many ways to pay that balance.”
How have your clients responded to the new name?
“It’s been overwhelmingly positive. They see our new name honors the word ‘Innovative’ while also pointing to the ‘Payment’ focus of our company.”
“We chose the name “Vaytiv” because it’s a blending of the word “Pay” and “Innovative.” This Spring we worked with a consultant to define who we are, what we do, and why it matters. We landed on the name “Vaytiv” when a theme of innovation and ingenuity rose to the top of all conversations. Throughout the history of the company, we have always looked to the future of patient payment to empower our clients to connect and collect from patients effectively.”
What’s next for Vaytiv?
“We are integrating with more EHR and EMR platforms. Our mission is to help make healthcare more affordable for patients and providers. We accomplish our mission by integrating 9 ways for patients to pay their bill with medical software. It’s always busy at our office. We are constantly supporting our clients, improving our product, and looking to the next Innovation. It makes busy days but we wouldn’t have it any other way.”
You can read the official Vaytiv Rebrand Letter here.
For future media inquiries, please email firstname.lastname@example.org or call 205-879-7415 (Ext. 4204) to speak with Ramsey White.