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This document is a financial and statistical report submitted by a long-term care facility to the Illinois Department of Healthcare and Family Services, detailing operational data, costs, revenue,
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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 all necessary financial documents, including income statements, balance sheets, and cash flow statements.
02
Compile statistical data relevant to the long-term care facility, such as occupancy rates, patient demographics, and staffing levels.
03
Access the specific reporting framework or format required for the Financial and Statistical Report.
04
Fill out the report section by section, starting with financial data, followed by statistical information.
05
Ensure that all figures are accurate and align with accounting standards as well as any regulatory requirements.
06
Review the completed report for completeness, ensuring no sections are omitted.
07
Submit the report to the designated regulatory body or agency before the deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facility administrators and managers who need to maintain compliance with regulatory requirements.
02
State and federal agencies that monitor the financial health and service quality of long-term care facilities.
03
Investors or stakeholders interested in the financial performance of the facility.
04
Researchers and policymakers who use the data for analysis and decision-making in health care.
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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 provides financial and operational data about long-term care facilities, helping to assess their performance and compliance with regulatory standards.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive funding from state or federal programs, such as Medicaid or Medicare, are generally 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 necessary financial data, operational statistics, and demographic information, and then input this information into the designated format, ensuring accuracy and completeness.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide a standardized way to evaluate the financial health and operational effectiveness of long-term care facilities, as well as to ensure transparency and accountability in their operations.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include data on revenues, expenses, occupancy rates, staffing levels, resident demographics, and other key performance indicators that reflect the facility's operations.
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