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This document is a comprehensive financial and statistical report required for long-term care facilities in Illinois, detailing revenue, expenses, occupancy rates, and regulatory adherence for the
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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 facility for the reporting period.
02
Collect statistical data including resident count, staffing hours, and service details.
03
Log into the reporting system or access the Financial and Statistical Report template.
04
Fill in the facility information on the report, including name, address, and license number.
05
Input financial data, such as total revenue, expenses, and profit/loss from the collected documents.
06
Enter statistical information, including occupancy rates and payroll data.
07
Review all entries for accuracy and completeness, ensuring alignments with previous reports.
08
Finalize the report and submit it through the designated channels by the deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facility administrators and financial officers for compliance and operational analysis.
02
Regulatory agencies for monitoring industry standards and trends.
03
State Medicaid programs for reimbursement purposes.
04
Potential investors or partners seeking financial health indicators 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 facilities to assess their performance, compliance, and financial viability.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive funding from government programs or are licensed to operate in certain states are typically required to file this report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must gather financial data, such as income, expenses, and occupancy rates, and follow specific guidelines provided by the regulatory authority, ensuring all sections are completed accurately.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide transparency in financial operations, monitor the quality of care, ensure compliance with regulations, and assist in funding decisions.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include data on revenues, expenditures, patient demographics, occupancy rates, staffing levels, and other relevant operational metrics.
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