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This document is a financial and statistical reporting form that long-term care facilities in Illinois must submit to the Department of Healthcare and Family Services for fiscal compliance, covering

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 data, including income, expenses, and any other relevant financial documents.
2. Obtain statistical data related to the facility's operations, such as number of residents, staffing levels, and service utilization.
3. Begin filling out the report by entering basic facility information, including name, address, and contact details.
4. Accurately input income figures, categorizing them into relevant sources (e.g., patient fees, government funding).
5. Detail all expenses by categorizing them (e.g., salaries, supplies, utilities) and entering each into the corresponding section of the report.
6. Include any additional relevant financial information or notes as required by the report guidelines.
7. Complete the statistical section by entering data on resident demographics, services provided, and other required metrics.
8. Review the report for accuracy and completeness before final submission.

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

1. Long-term care facility administrators and managers.
2. State or federal regulatory bodies requiring financial transparency.
3. Health care policymakers and researchers analyzing care facility operations.
4. Investors or stakeholders interested in the financial health of the facility.

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 an official document that captures financial data, operational statistics, and performance metrics of long-term care facilities. It provides insights into the financial health and service delivery of these organizations.

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

All long-term care facilities that receive state or federal funding, such as nursing homes and assisted living facilities, are typically required to file this report to ensure compliance with regulatory standards.

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

To fill out the report, facilities need to gather financial statements, operational data, and other relevant statistics. Then, they must complete the required sections of the form accurately, ensuring that all figures are supported by proper documentation and submitted by the deadline.

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

The purpose of the report is to provide transparency and accountability for the use of public funds, monitor the financial performance of the facilities, and inform policymakers and stakeholders about the state of long-term care services.

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

The report must include information such as total revenues, expenses, patient census data, staffing levels, occupancy rates, and any other relevant financial and operational statistics, often prescribed by regulatory authorities.