Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois
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A report submitted by long-term care facilities in Illinois detailing financial and statistical data for the fiscal year 2007 as required by the Department of Healthcare and Family Services, including
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How to fill out financial and statistical report
How to fill out Financial and Statistical Report for Long-Term Care Facilities
01
Gather financial data from your facility's accounting records.
02
Organize revenue and expenses into categorized sections as outlined in the report.
03
Collect statistical data regarding patient care, staffing levels, and facility occupancy.
04
Ensure all figures are accurate and reflect the reporting period correctly.
05
Complete each section of the report according to the instructions provided, ensuring compliance with local regulations.
06
Review all entries for consistency and accuracy before submission.
07
Submit the report by the specified deadline to the relevant authorities.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities seeking funding or compliance with regulatory requirements.
02
Government agencies that monitor and evaluate healthcare providers.
03
Researchers analyzing the financial trends in long-term care.
04
Insurance companies assessing risk and operational sustainability.
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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.
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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.
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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
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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).
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What is Financial and Statistical Report for Long-Term Care Facilities?
The Financial and Statistical Report for Long-Term Care Facilities is a standardized reporting tool used by long-term care facilities to provide financial data and statistical information regarding their operations. This report helps regulatory bodies assess the financial health and operational efficiency of these facilities.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive public funding or are licensed by state authorities are typically required to file the Financial and Statistical Report. This requirement may vary by state and is generally mandated for nursing homes and similar establishments.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities need to gather financial statements, patient care data, occupancy rates, and other relevant information. They should follow the guidelines provided by the regulatory authority, ensuring all sections are completed accurately and submitted by the deadline.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report for Long-Term Care Facilities is to provide transparency about the financial operations of these facilities, allowing regulatory agencies to monitor compliance, assess funding needs, and ensure the delivery of quality care to residents.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report typically requires information such as total revenues, expenditures, occupancy rates, number of residents, staffing data, and service utilization statistics. Additionally, facilities may need to report on funding sources and financial assistance received.
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