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This document serves as a comprehensive financial report for long-term care facilities in Illinois, detailing revenues, expenses, services provided, and facility information necessary for compliance

How to fill out financial and statistical report

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

1. Gather all financial documents for the reporting period including income statements, balance sheets, and expense reports.
2. Obtain relevant statistical data related to the facility, such as bed capacity, occupancy rates, and staffing levels.
3. Review the specific guidelines provided by the regulatory authority or funding agency for the report format and required information.
4. Begin by filling out the financial sections, ensuring accuracy in all figures and completeness of the data presented.
5. Next, input the statistical information, clearly labeling each data point as specified in the guidelines.
6. Check for any required narratives or explanations that accompany the numeric data, providing context as necessary.
7. Review the entire report for compliance with guidelines and accuracy, making corrections as needed.
8. Prepare the report for submission, ensuring it is signed by the appropriate authority within the facility.

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

1. Long-term care facilities looking to receive funding from government programs or private insurers.
2. Regulatory agencies requiring oversight and compliance checks on facility operations.
3. Facility management teams needing to analyze financial performance and statistical outcomes for strategic planning.
4. Stakeholders who have a vested interest in the operation and financial health of long-term care facilities.

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 collects financial and operational data from long-term care facilities to assess their performance, compliance, and financial health.

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

All licensed long-term care facilities, including nursing homes and skilled nursing facilities, are required to file the Financial and Statistical Report to provide the necessary information for state and federal oversight.

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

To fill out the report, facilities must gather relevant financial data, such as revenue, expenses, and patient statistics, and input this information accurately into the provided reporting template, ensuring that all mandatory sections are completed.

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

The purpose of the report is to facilitate informed decision-making by regulators and stakeholders regarding funding, quality of care, and operational efficiency in long-term care facilities.

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

Facilities must report various information including total resident days, occupancy rates, staffing levels, financial expenditures, revenue sources, and other operational data necessary for evaluation and compliance.