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This document serves as a comprehensive financial and statistical report required by the Illinois Department of Healthcare and Family Services from long-term care facilities, providing detailed information

How to fill out financial and statistical report

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

1. Gather all necessary financial documents and data related to the long-term care facility.
2. Review the reporting period the form covers (e.g., monthly, quarterly, annually).
3. Fill out the facility identification section with accurate names, addresses, and contact information.
4. Input financial data, including revenue sources, expenses, and other relevant financial information according to the provided sections.
5. Complete the statistical sections by entering relevant data on resident admissions, discharges, and average daily census.
6. Ensure all calculations are correct and that the data aligns with supporting documents.
7. Double-check for any missing signatures or required confirmatory statements.
8. Submit the report by the designated deadline, ensuring to keep a copy for your records.

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

1. Long-term care facilities, such as nursing homes and assisted living centers, which are required to report their financial and statistical performance.
2. Management teams of long-term care facilities who need to assess financial health and operational effectiveness.
3. Regulatory agencies that use the reports for monitoring compliance and allocating funds.
4. Researchers and policy makers interested in analyzing data for improving long-term care systems.

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 document that provides detailed financial and operational data regarding long-term care facilities, which includes nursing homes, assisted living, and other relevant entities. This report aids in understanding the facility's financial health and operational efficiency.

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

Long-term care facilities that receive state or federal funding are generally required to file the FINANCIAL AND STATISTICAL REPORT. This includes nursing homes, skilled nursing facilities, and similar institutions that operate under regulations set by government entities.

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 data on their finances, including revenues, expenditures, and statistical data on patient care and staffing. Following specific guidelines from the relevant regulatory body, they will fill in various sections of the report, ensuring all information is consistent and truthful.

What is the purpose of FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The purpose of the FINANCIAL AND STATISTICAL REPORT is to ensure transparency and accountability in the operation of long-term care facilities. It serves as a tool for regulatory agencies to assess the financial viability and performance standards of these facilities, ultimately impacting funding and regulatory decisions.

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

The report typically requires information such as total revenue, expenses, patient demographics, staffing levels, service utilization data, and any other operational statistics that reflect the facility's performance and financial stability.