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This document is a mandatory financial and statistical report submitted by long-term care facilities in Illinois, detailing their operational and financial data for the fiscal year.

How to fill out financial and statistical report

How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES

1. Gather all necessary financial data and statistics for the long-term care facility.
2. Ensure accuracy of all data collected, including revenues, expenses, and patient information.
3. Follow the template provided for the Financial and Statistical Report, ensuring to fill in all required sections.
4. Input financial data in the relevant fields, categorizing them correctly (e.g., program revenue, operational expenses).
5. Include statistical information such as patient demographics, occupancy rates, and staff-to-resident ratios.
6. Review the completed report for any inconsistencies or errors.
7. Submit the report by the designated deadline, following the appropriate submission protocols.

Who needs FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

1. Long-term care facilities seeking funding or compliance with regulatory requirements.
2. Government agencies that monitor and assess the performance of long-term care facilities.
3. Investors or stakeholders interested in the financial health of long-term care entities.
4. Administrators and managers within long-term care facilities for operational and strategic planning.

People Also Ask about

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 largest source of financing LTC?

Medicaid — a government program that helps cover medical costs for people with limited income and assets — is the major source of funding for LTC in the United States.

What is the average monthly cost of long-term care?

Cost of care trends and insights Type of service and rate type2024 national median values2023 national median values Adult day health care Daily $100 $95 Assisted living community Monthly $5,900 $5,350 Nursing home semi-private room Monthly $9,277 $8,669 Nursing home private room Monthly $10,646 $9,7332 more rows

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).

How much does long-term care cost per month?

Cost of care trends and insights Type of service and rate type2024 national median values2023 national median values Adult day health care Daily $100 $95 Assisted living community Monthly $5,900 $5,350 Nursing home semi-private room Monthly $9,277 $8,669 Nursing home private room Monthly $10,646 $9,7332 more rows

What is the average cost of long-term care in the US?

In the United States, long-term care costs between $35,000 and $108,000 a year in 2021. Out of the three different types of long-term care we compared, private rooms in nursing homes are the most costly, with an average of $108,405 a year.

Will Medicare pay for a long-term nursing home?

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.

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 provides detailed financial data and operational statistics about long-term care facilities. It serves to assess the financial health and performance of these facilities, including revenue, expenses, patient demographics, and service utilization.

Who is required to file FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

Typically, long-term care facilities that receive funding from state or federal programs, such as Medicaid or Medicare, are required to file this report. This often includes nursing homes, assisted living facilities, and similar establishments.

How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

To fill out the report, facilities need to gather financial records, patient admission data, and operational statistics. They must follow the provided guidelines and templates to accurately input data into various sections that outline income, expenses, patient care metrics, and other relevant information.

What is the purpose of FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The purpose of the report is to provide transparency, ensure accountability, and facilitate regulatory oversight of long-term care facilities. It helps state and federal agencies monitor the financial sustainability and quality of care provided to residents.

What information must be reported on FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The information that must be reported includes financial data such as total revenue, operating expenses, patient census data, types of services provided, staffing levels, and any financial assistance received. Accurate reporting ensures a comprehensive overview of the facility's operations.