Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois

This document serves as a financial and statistical report required by the State of Illinois for long-term care facilities, detailing the facility's fiscal operations, occupancy, costs, revenues,

How to fill out financial and statistical report

How to fill out Financial and Statistical Report for Long-Term Care Facilities

1. Gather all necessary financial documents, including income statements, balance sheets, and expense reports.
2. Review the reporting guidelines specific to long-term care facilities to ensure compliance.
3. Input total revenues from all sources, including patient fees, government reimbursements, and private pay.
4. Document total expenditures, categorizing them into fixed and variable costs for clarity.
5. Include data on facility occupancy rates, staffing levels, and resident demographics as required.
6. Complete the statistical section by collecting relevant metrics like patient days and average length of stay.
7. Review all entries for accuracy and ensure that all sections are filled in completely.
8. Submit the completed report by the designated deadline to the appropriate regulatory agency.

Who needs Financial and Statistical Report for Long-Term Care Facilities?

1. Long-term care facilities including nursing homes, assisted living facilities, and rehabilitation centers.
2. Regulatory agencies that oversee and monitor the operations of long-term care facilities.
3. Healthcare administrators and financial officers responsible for managing facility budgets and compliance.

People Also Ask about

What percentage of people age 75 to 84 live in nursing homes?

ing to their national study of long-term care providers: 38.6% of nursing home residents are older than 85. 26.7% of residents are between 75 and 84.

What percentage of people with long-term care insurance actually use it?

So, 35% will use their coverage and 65% will not. As you might assume, the decline is because during those first 90 days, some people will recover and some will die.

What is the financial impact of long-term care in the United States?

In the U.S., long-term care costs individuals and their families thousands of dollars annually, with nursing home care often costing more than $100,000 a year (Exhibit 1). Given that many who use these services will need it for at least one year, costs can quickly become burdensome.

What is the average daily rate for long-term care?

ing to Genworth's estimates, the median cost of a private room in a nursing home is $339 per day or $10,326 per month in 2025. Semiprivate rooms are more affordable, with a median cost of $302 per day or $9,197 monthly.

How much does a home nurse cost per day?

Homemaker Services Costs By State StateHome Care Median Hourly RateHome Care Daily Rate / 8 hours California $38.19 $240 Colorado $37.13 $233 Connecticut $32.89 $207 Delaware $25.46 $16048 more rows

What does long-term care cost per day?

Consider the national median costs for long-term care services²: $255 a day(or $7,756 per month) for a semi-private room in a nursing home. $290 a day (or $8,821 per month) for a private room in a nursing home. $141 a day (or $4,300 per month) in an assisted living facility.

How much does Medicare pay for long-term nursing home care?

Long-term care Long-term supports and services can be provided at home, in the community, in assisted living, or in nursing homes. Individuals may need long-term supports and services at any age. Medicare and most health insurance plans don't pay for long-term care.

What are typical long-term care premiums?

How much is long-term care insurance? ing to the 2024 American Association for Long-Term Care Insurance (AALTCI) annual Price Index survey, the average annual premium for a $165,000-benefit policy with no inflation protection is $950 for a single male (age 55) and $1,500 for a single female (age 55).

For pdfFiller’s FAQs

What is Financial and Statistical Report for Long-Term Care Facilities?

The Financial and Statistical Report for Long-Term Care Facilities is a documented summary that provides financial data and statistical information regarding the operations and performance of long-term care facilities, such as nursing homes and assisted living centers. It helps assess the facility's financial health and service delivery efficacy.

Who is required to file Financial and Statistical Report for Long-Term Care Facilities?

Long-term care facilities that participate in Medicaid or Medicare programs are typically required to file the Financial and Statistical Report. This includes skilled nursing facilities and certain residential care homes.

How to fill out Financial and Statistical Report for Long-Term Care Facilities?

To fill out the Financial and Statistical Report, facilities should gather relevant financial data and statistical information from their accounting systems, including expenses, revenues, patient demographics, and care services provided. The report typically requires adherence to specific guidelines and forms set by regulatory bodies or oversight agencies.

What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?

The purpose of the Financial and Statistical Report is to provide regulatory agencies and the public with transparent information regarding the financial operation and service quality of long-term care facilities, which aids in policy-making, funding decisions, and ensuring compliance with health regulations.

What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?

The information required on the Financial and Statistical Report typically includes details such as total revenue, operating expenses, number of residents, service types provided, staffing levels, occupancy rates, and other relevant financial metrics. Facilities must also report any unusual financial items or significant changes in operations.