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This document is a financial and statistical report required for long-term care facilities in the State of Illinois, detailing expenses, revenue, and other operational information for the given fiscal

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, such as income statements and balance sheets.
2. Collect statistical data related to facility operations, including patient census and staffing levels.
3. Start filling out the report by entering basic facility information, such as name and address.
4. Input total revenue figures from different sources, such as Medicare, Medicaid, and private pay.
5. Record total expenses, categorizing them appropriately into operational costs, salaries, and other expenditures.
6. Enter statistical data, ensuring accuracy by cross-referencing with collected data.
7. Review the completed report for accuracy and compliance with reporting guidelines.
8. Submit the report by the required deadline.

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

1. Long-term care facilities for regulatory compliance.
2. Government agencies for funding and oversight evaluations.
3. Healthcare operators for monitoring financial health and operational efficiency.
4. Investors and stakeholders for informed decision-making and assessment.

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 entities. It includes information on revenues, expenditures, patient statistics, and staffing levels, which helps in assessing the financial health and operational efficiency of these facilities.

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

Long-term care facilities, including nursing homes and assisted living facilities that receive public funding or operate under specific state regulations, are typically required to file the Financial and Statistical Report. This document is often mandated by state or federal authorities to ensure transparency and accountability.

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

To fill out the Financial and Statistical Report, facilities should gather accurate financial records, operational statistics, and patient data. They must follow the guidelines provided by the reporting authority, ensuring that all sections are completed accurately and within the specified timelines. Detailed instructions are usually provided with the report form itself.

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 transparent overview of the financial operations and patient care statistics of long-term care facilities. It aids regulators in monitoring the quality of care, helps in resource allocation, and supports financial assessments to ensure these facilities are meeting standards and requirements.

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

The report typically requires the following information: total revenue, total expenses, number of patients served, patient demographics, staff-to-patient ratios, occupancy rates, and other operational metrics. Specific data points may vary based on state regulations and the facility's operational model.