Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois
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This document is a comprehensive financial and statistical report submitted by Holy Family Villa to the Illinois Department of Public Aid. It includes details on facility operations, financial performance,
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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 relevant financial documents and data for the reporting period.
02
Start with the income section: list all sources of revenue including patient fees, government funding, and other income.
03
Next, identify and summarize all operational expenses including salaries, rent, utilities, and supplies.
04
Calculate the net income by subtracting total expenses from total revenue.
05
Fill out statistical data regarding facility occupancy rates, patient demographics, and staff-to-patient ratios.
06
Ensure compliance with all reporting guidelines and requirements specified by governing bodies.
07
Review and verify all entered data for accuracy before submission.
08
Submit the completed report by the designated deadline to the appropriate regulatory authority.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities including nursing homes and rehabilitation centers.
02
Regulatory agencies that oversee long-term care operations.
03
Financial auditors and funding organizations that require accountability in reporting.
04
Policy makers and researchers analyzing the long-term care industry.
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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 comprehensive document that collects financial and operational data from long-term care facilities to assess their performance and ensure compliance with regulations.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, including nursing homes and assisted living facilities, are required to file the Financial and Statistical Report as mandated by state and federal regulations.
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, operational statistics, and resident information, then complete the designated form accurately, ensuring that all required fields are filled out and that the information is verified for accuracy.
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 state and federal agencies with a clear picture of the financial health and operational effectiveness of long-term care facilities, which aids in regulatory oversight, funding decisions, and improving quality of care.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include financial data such as total revenues and expenses, occupancy rates, staffing levels, operational outcomes, and demographic information about residents, as well as any other statistical data required by regulatory bodies.
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