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

This document is a financial and statistical report required by the Illinois Department of Public Aid for long-term care facilities, detailing facility operations, services, occupancy, expenses, and

How to fill out financial and statistical report

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

1. Gather necessary financial documents such as income statements, balance sheets, and cash flow statements.
2. Review the reporting guidelines provided by regulatory authorities to understand the required format and information.
3. Compile statistical data relevant to the facility’s operations, including patient admissions, discharges, and occupancy rates.
4. Fill out each section of the form systematically, ensuring accurate data entry for both financial and statistical components.
5. Double-check all data for consistency and accuracy before submission.
6. Submit the completed report by the deadline specified by the authorities.

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

1. Long-term care facility administrators and managers for operational assessment.
2. Regulatory agencies for compliance and monitoring purposes.
3. Financial analysts evaluating the economic performance of long-term care facilities.
4. Policymakers for informed decision-making regarding healthcare funding and support.

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 comprehensive document that provides financial and operational data about long-term care facilities, which includes nursing homes, assisted living facilities, and other care providers. It captures revenue, expenses, occupancy rates, and other performance metrics.

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

Long-term care facilities that receive government funding or participate in state and federal programs, such as Medicaid and Medicare, 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 Financial and Statistical Report, facilities must gather financial records, including income statements and balance sheets, as well as operational data like patient demographics and service utilization. They should follow the specific guidelines provided by the governing agency or department and ensure accuracy in reporting all required data.

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 oversight and accountability in the long-term care industry, ensuring that facilities are financially stable and compliant with regulations, while also informing policy decisions and resource allocation.

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

The report must include information such as financial data (revenue, expenses), statistical data (occupancy rates, patient demographics), operational metrics (staffing levels, service offerings), and compliance details with regulatory requirements.