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This document is a financial and statistical report required from long-term care facilities in Illinois, covering fiscal year 2003. It includes detailed information about facility operations, expenses,

How to fill out financial and statistical report

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

1. Gather the necessary financial data and statistical information from the facility.
2. Enter the total number of residents in the facility during the reporting period.
3. Report the total revenue generated, including sources such as Medicaid, Medicare, and private pay.
4. Detail the total expenses incurred, categorizing them into operational and non-operational costs.
5. Include information about staff, such as the number of employees, hours worked, and employee benefits expenses.
6. Summarize the occupancy rates, showing both the average and the highest occupancy levels during the reporting period.
7. Provide data on resident demographics, including age, gender, and level of care required.
8. Ensure all sections are completed accurately and reviewed for any discrepancies.
9. Submit the report by the required deadline and keep a copy for the facility's records.

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

1. Long-term care facility administrators for compliance and operational planning.
2. Government agencies for monitoring and regulation of long-term care services.
3. Financial analysts and auditors for assessing the financial health of the facility.
4. Healthcare policymakers for informed decision-making regarding long-term care funding and services.
5. Stakeholders and investors interested in the financial viability of long-term care facilities.

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 provides detailed financial and operational statistics about long-term care facilities. It is used for 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 are licensed by state authorities, are required to file the Financial and Statistical Report.

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

To fill out the report, facilities must gather financial data, resident statistics, staffing information, and operational details. They must use the designated forms provided by regulatory agencies, ensuring all sections are accurately completed and submitted by the required deadlines.

What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?

The purpose of the report is to monitor and evaluate the financial performance and quality of care in long-term care facilities, ensuring compliance with regulations and promoting accountability among providers.

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

Facilities must report data regarding their revenues, expenses, patient demographics, occupancy rates, staff-to-patient ratios, and other key performance indicators that reflect their financial and operational status.