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This document is a comprehensive financial and statistical report required for long-term care facilities in Illinois, detailing operational costs, revenue, and other key data for fiscal year 2005.
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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 necessary financial documents, including income statements and expenses for the reporting period.
02
Collect statistical data related to resident care, including admissions, discharges, and patient demographics.
03
Complete the financial section by logging total revenues, expenses, and calculating net income.
04
Fill in the statistical section with the collected data, ensuring accuracy for metrics such as average length of stay and occupancy rates.
05
Review all filled information for consistency and ensure compliance with state and federal guidelines.
06
Submit the report by the required deadline, typically to relevant state health departments.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities, including nursing homes and assisted living centers, need the report for regulatory compliance.
02
State health departments use it to monitor facility performance and resource allocation.
03
Facility administrators need it for internal auditing, financial planning, and strategic decision-making.
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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 and summarizes the financial data and operational statistics of long-term care facilities, such as nursing homes, to ensure compliance with regulatory requirements and to provide insights into facility performance.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, including nursing homes and skilled nursing facilities, are required to file the Financial and Statistical Report to maintain their operational licenses and receive reimbursement from government healthcare programs.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities must gather relevant financial data and operational statistics, accurately complete each section of the form as specified, and ensure compliance with any state-specific guidelines before submitting it by the designated deadline.
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 regulators with essential financial and operational data, facilitate transparency in the long-term care industry, and assist in the assessment of the quality and efficiency of care provided to residents.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include information on revenue, expenses, occupancy rates, staffing levels, resident demographics, services provided, and any relevant financial metrics that reflect the operational status of the facility.
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