Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois
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This document is a comprehensive financial and statistical report required by the State of Illinois for long-term care facilities, capturing detailed data on licensing, services provided, costs incurred,
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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 necessary financial data: Collect income statements, balance sheets, and cash flow statements relevant to the reporting period.
02
Compile statistical data: Include resident days, patient admissions, and staff hours worked.
03
Follow formatting guidelines: Use the specified format for the report to ensure clarity and compliance.
04
Fill out financial sections: Input revenue, expenses, and operating income in the appropriate sections of the report.
05
Enter statistical information: Provide the required statistical data in the designated areas, ensuring accuracy.
06
Review calculations: Double-check all numerical entries for accuracy and ensure correct totals are displayed.
07
Submit the report: Once completed, submitted to the appropriate regulatory body or authority by the deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities for regulatory compliance purposes.
02
State and federal regulatory agencies for oversight and funding considerations.
03
Healthcare organizations for benchmarking performance and financial analysis.
04
Investors and stakeholders for evaluating the financial health of the facility.
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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 detailed financial and operational data from long-term care facilities to assess their economic viability and quality of care.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, including nursing homes and assisted living facilities, are required to file the Financial and Statistical Report to provide transparency and accountability.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities must gather necessary financial records, operational data, and ensure accuracy while following specific guidelines provided by regulatory agencies during the reporting period.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report is to monitor facility performance, allocate funds appropriately, ensure compliance with regulations, and improve the quality of care provided to residents.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Facilities must report information such as total revenues, expenditures, resident care statistics, occupancy rates, staff credentials, and other financial metrics essential for evaluating the operational status of the facility.
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