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This document serves as a comprehensive financial and statistical report submitted by Galena Stauss Hospital SNU to the Illinois Department of Healthcare and Family Services for the evaluation of

How to fill out financial and statistical report

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

1. Begin by gathering financial data for the reporting period, including revenue, expenses, and assets.
2. Collect statistical data such as resident counts, occupancy rates, and staffing levels.
3. Fill out the sections related to income, detailing sources of revenue such as patient fees and reimbursements.
4. Document all expenses including staff salaries, medical supplies, and facility maintenance.
5. Include any additional financial metrics required, such as capital expenditures or profit margins.
6. Enter statistical data in designated sections, ensuring accuracy in reporting resident demographics and care services provided.
7. Review the completed report for any discrepancies or missing information.
8. Submit the report by the designated deadline to the required regulatory agency or organization.

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

1. Long-term care facilities, such as nursing homes and assisted living centers, must complete this report.
2. Regulatory agencies that oversee healthcare facilities require this report for compliance and funding purposes.
3. Stakeholders, including investors and management, need this report for financial planning and decision-making.

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 standardized form required for reporting the financial and operational data of long-term care facilities, which includes nursing homes and assisted living establishments. It helps in the assessment of the financial health and operational efficiency of these facilities.

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

All licensed long-term care facilities that receive funding from government sources, such as Medicaid and Medicare, are required to file the FINANCIAL AND STATISTICAL REPORT. This typically includes nursing homes and other residential care providers.

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

To fill out the FINANCIAL AND STATISTICAL REPORT, facilities should gather financial data including revenue, expenses, patient days, and staffing information. Each section of the form must be completed accurately, reflecting the facility's operations during the reporting period. It may also require the use of specific accounting guidelines and formats.

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 the financial status and operational performance of long-term care facilities. This information is crucial for regulatory compliance, financial audits, and ensuring that facilities are providing quality care in a sustainable manner.

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

The report must include detailed information about financial data such as total revenues, total expenses, operating income, patient census data, staffing levels, and any other operational metrics relevant to the facility's performance. This may also include statistics on patient demographics and care outcomes.