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

This document is a financial and statistical report for long-term care facilities, detailing various operational, financial, and compliance information required by the Illinois Department of Healthcare

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 documents, including income statements, balance sheets, and cash flow statements.
2. Collect statistical information related to admissions, discharges, length of stay, and staffing levels.
3. Log onto the reporting platform or system designated for submitting the Financial and Statistical Report.
4. Select the correct reporting period for which the data will be submitted.
5. Enter financial data accurately into the designated fields, ensuring to cross-reference with your gathered documents.
6. Input statistical data diligently, making sure to adhere to any specific definitions or formats required.
7. Review all entries for accuracy and completeness before submitting.
8. Submit the report electronically or through the required method and keep a confirmation for your records.

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

1. Long-term care facilities administrators and managers.
2. State and federal regulatory agencies overseeing the healthcare sector.
3. Healthcare policy makers and researchers analyzing healthcare trends.
4. Insurance companies involved in reimbursement processes for long-term care services.
5. Stakeholders and investors assessing the performance and compliance of long-term care facilities.

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 comprehensive document that captures the financial and operational data of long-term care facilities. It includes information on revenues, expenses, staffing, resident demographics, and other critical metrics to assess the performance and financial health of 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 required to file the Financial and Statistical Report. This requirement ensures that the facilities maintain transparency and accountability regarding their financial practices and operational statistics.

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

To fill out the Financial and Statistical Report, facilities should gather all relevant financial records and operational data according to the guidelines provided by regulatory authorities. This includes compiling data on income sources, expenses, staffing levels, occupancy rates, and resident care statistics. Facilities must adhere to the specified formats and instructions provided in the reporting guidelines.

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 standardized means of collecting data on the financial operations and quality of care in long-term care facilities. This data is used for regulatory compliance, policy formulation, and improving the quality of care for residents. It also aids in benchmarking and financial analysis within the industry.

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

The Financial and Statistical Report must include detailed information such as total revenue, total expenses, staffing levels, occupancy rates, average length of stay, average cost per day, and any other relevant operational statistics. Additionally, facilities may have to report on resident demographics and quality of care metrics.