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This document is a financial and statistical report required by the Illinois Department of Public Aid for long-term care facilities, detailing operational data, financial performance, and compliance
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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
Obtain the necessary forms from the relevant governing body or regulatory agency.
02
Read the accompanying instructions carefully to understand the requirements.
03
Gather financial data including revenue sources, expenses, and capital expenditures.
04
Prepare the statistical data, including resident demographics and service utilization.
05
Fill out the financial sections accurately, including income statements and balance sheets.
06
Enter statistical data in the designated sections, ensuring data is complete and accurate.
07
Review all entries for correctness and completeness.
08
Submit the completed report by the specified deadline to the appropriate authority.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities required to report financial and statistical information.
02
Regulatory agencies that monitor compliance and performance of care facilities.
03
Financial auditors and analysts assessing the financial health of care facilities.
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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).
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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 comprehensive document that collects financial and operational data from long-term care facilities to ensure accountability and transparency in the use of resources.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive public funding or participate in Medicaid and Medicare programs are typically required to file the Financial and Statistical Report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must gather required financial and operational data, follow the guidelines provided by regulatory agencies, and submit the completed forms within the specified deadlines.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to assess the financial health, operational efficiency, and quality of care provided by long-term care facilities, while also ensuring compliance with state and federal regulations.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report generally requires information on revenues, expenses, occupancy rates, staffing levels, resident demographics, and quality measures related to the care provided.
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