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

This document is a financial report required by the State of Illinois for long-term care facilities, detailing revenue, expenses, and operational statistics for the fiscal year 2007.

How to fill out financial and statistical report

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

1. Gather necessary financial documents, including income statements and balance sheets.
2. Download the Financial and Statistical Report form from the designated regulatory agency's website.
3. Fill out the basic facility information, including name, address, and contact details.
4. Report total revenue by providing details on different income sources, such as Medicare, Medicaid, and private payments.
5. Document total expenses by categorizing them into payroll, medical supplies, administrative costs, etc.
6. Calculate occupancy rates and include statistics on resident demographics.
7. Ensure compliance with any specific state or federal requirements listed in the guidance notes.
8. Review the completed report for accuracy and completeness.
9. Submit the report electronically or via mail by the specified deadline.
10. Keep a copy of the submitted report and any correspondence for your records.

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

1. Long-term care facilities, including nursing homes and assisted living facilities, need to complete this report.
2. State and federal regulatory agencies require these reports to monitor financial health and compliance.
3. Healthcare policymakers and researchers may use this data for analysis and improvement of care standards.

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 gathers financial and operational data from long-term care institutions to ensure compliance with regulations, assess financial health, and facilitate effective management.

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

Long-term care facilities that receive Medicaid and/or Medicare funding are typically required to file the Financial and Statistical Report to provide transparency and accountability in their financial operations.

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

To fill out the Financial and Statistical Report, facilities must gather accurate financial data, carefully follow the reporting guidelines and instructions provided by the relevant authorities, and ensure that all sections of the report are completed with up-to-date information.

What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?

The purpose of the Financial and Statistical Report is to collect necessary data for evaluating the financial viability of long-term care facilities, ensuring compliance with federal and state regulations, and guiding policy decisions related to healthcare financing.

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

The report typically requires information such as revenue and expenses, patient demographics, staffing levels, occupancy rates, and utilization of services, as well as other relevant operational metrics.