Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois
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A mandatory report for long-term care facilities in Illinois to disclose financial and operational data necessary for compliance with departmental regulations.
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How to fill out financial and statistical report
How to fill out Financial and Statistical Report for Long-Term Care Facilities
01
Gather all financial documents related to the long-term care facility, including revenue reports, expense statements, and payroll data.
02
Compile statistical data such as the number of residents, staff ratios, and occupancy rates.
03
Fill in the required sections of the Financial and Statistical Report, ensuring all financial data is accurately reflected in the appropriate fields.
04
Double-check calculations and ensure that all statistics align with the financial information provided.
05
Attach any necessary supporting documents as required by regulatory bodies.
06
Review the entire report for completeness and accuracy before submission.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Administrators of long-term care facilities for regulatory compliance.
02
Financial departments for budgeting and financial planning.
03
State and federal agencies for monitoring and evaluation of care facilities.
04
Investors and stakeholders interested in the financial health of the facility.
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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).
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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 providers to assess their economic performance and resource utilization.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive Medicaid funding or are subject to state regulations are typically 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 report, facilities must gather financial records, operational statistics, and patient data, and enter the information into the standardized form as per the guidelines provided by the state or regulatory body.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to ensure transparency, monitor financial viability, support regulatory compliance, and inform policy decisions regarding funding and resource allocation for long-term care services.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include financial data such as revenue, expenses, and profit margins, as well as statistical information on facility operations, including patient demographics, occupancy rates, and staffing levels.
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