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This document serves as a financial and statistical report for long-term care facilities in the State of Illinois, compiling necessary data for the fiscal year 2006 to ensure compliance with state
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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 required financial data such as income, expenses, and patient demographics.
02
Use the provided template or form for the report to ensure all sections are covered.
03
Enter total revenues in the appropriate section, including any state or federal funding.
04
Document all expenses, categorizing them into operational and capital costs.
05
Calculate the net income or loss by subtracting total expenses from total revenues.
06
Provide statistical data including patient census, average length of stay, and staffing levels.
07
Review the report for accuracy and completeness before submission.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facility administrators.
02
State and federal regulatory agencies for compliance assessment.
03
Healthcare financial analysts and auditors.
04
Facility owners and investors for financial planning.
05
Accrediting organizations for quality assessments.
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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 document that provides critical financial and operational data regarding long-term care providers. This report is used to monitor financial health, resource allocation, and service delivery in these facilities.
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 typically required to file the Financial and Statistical Report as mandated by state and federal regulations.
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 data, including revenue, expenses, and patient statistics, and enter this information into the prescribed format provided by regulatory bodies. Facilities should ensure accuracy and completeness before submission.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report is to ensure transparency and accountability in the financial practices of long-term care facilities. It helps state and federal agencies to assess compliance, allocate funding, and track overall industry performance.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include various data points such as total revenue, operating expenses, occupancy rates, staffing levels, patient demographics, and other operational statistics pertinent to the facility's performance and financial status.
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