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This document is the Financial and Statistical Report required from long-term care facilities in Illinois, detailing their operations, financial status, and compliance with state regulations for the

How to fill out financial and statistical report

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

1. Gather all financial documents and data related to the long-term care facility.
2. Identify the reporting period for the financial and statistical report.
3. Fill out the income section by detailing all sources of revenue, including patient fees, insurance reimbursements, and any grants received.
4. Document all operating expenses, including staff salaries, facility maintenance, and medical supplies.
5. Calculate the total income and total expenses to determine the net income or loss for the reporting period.
6. Complete the statistical section by providing relevant metrics such as number of residents, staff-to-resident ratios, and occupancy rates.
7. Ensure that all data is accurately represented and verify the calculations.
8. Review the report for completeness and compliance with relevant regulations.
9. Submit the completed report to the appropriate regulatory body or organization.

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

1. Long-term care facilities must complete the report to comply with regulatory requirements.
2. State and federal agencies that monitor healthcare facilities require these reports for oversight.
3. Investors and stakeholders may need the report for financial assessment.
4. Administrative and management teams within the facilities use the report for financial planning and operational decision-making.

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 mandatory document that collects data on the financial performance and statistics of long-term care providers. It includes information about revenues, expenses, patient admissions, and operational metrics.

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 to ensure compliance with state regulations and to provide transparency in operations.

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

To fill out the report, facilities must gather relevant financial and operational data throughout the reporting period, complete each section of the report form accurately, and ensure that all figures are supported by financial statements and records before submission.

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 regulatory authorities with insights into the financial health and operational efficiencies of long-term care facilities, facilitating oversight and policy development for the sector.

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

Facilities must report data regarding their total revenue, operating expenses, number of residents, patient care hours, staffing levels, and other relevant financial and demographic information that reflects their operational status.