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

This document serves as a mandatory financial and statistical disclosure from long-term care facilities operating under the Illinois Department of Healthcare and Family Services, detailing their performance

How to fill out financial and statistical report

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

1. Gather the necessary financial data, including income, expenses, and any other relevant documents.
2. Review the reporting requirements specific to your state or organization regarding the Financial and Statistical Report.
3. Start filling out the report by entering the facility's identification information.
4. Accurately record total revenue generated from various sources, such as patient services and investments.
5. Document all expenses, including payroll, operating costs, and any capital expenditures.
6. Ensure that all data corresponds to the reporting period and is reconciled with financial statements.
7. Include statistical data such as the number of patients served, staffing levels, and occupancy rates as per the guidelines.
8. Review the report for accuracy and completeness, making sure all required fields are filled.
9. Submit the completed report to the appropriate state or federal agency by the due date.

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

1. Long-term care facilities that operate nursing homes, assisted living, and other related services are required to submit the Financial and Statistical Report.
2. Government agencies and regulatory bodies utilize the report for monitoring compliance and assessing the financial health of these facilities.
3. Stakeholders such as investors, management, and financial institutions may need the report for strategic planning and funding decisions.

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 document that collects financial and operational data from long-term care facilities, such as nursing homes, to assess their performance and compliance with regulatory requirements.

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

Long-term care facilities, including skilled nursing facilities and intermediate care facilities, that receive Medicare or Medicaid funding 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 Financial and Statistical Report, long-term care facilities must organize their financial data, operational statistics, and relevant patient information. They usually follow specific guidelines provided by regulators, ensuring that all required sections are accurately completed and submitted on time.

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 a comprehensive overview of a facility's financial health and operational efficiency, enabling regulators to monitor compliance, assess quality of care, and allocate funds appropriately.

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

Facilities must report various types of information, including financial data (revenues and expenditures), patient care statistics (occupancy rates, patient demographics), staffing levels, and any other operational metrics that help gauge their overall performance.