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This document is a financial and statistical report required by the Illinois Department of Public Aid for long-term care facilities, detailing various operational and financial statistics 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 the required financial documents and data related to the long-term care facility.
02
Identify and allocate direct and indirect costs into appropriate categories.
03
Calculate total revenue generated by the facility, including Medicare, Medicaid, and private pay.
04
Fill out the designated sections for patient statistics, including admissions, discharges, and average daily census.
05
Detail staffing numbers, including full-time and part-time employees, as well as contracted staff.
06
Provide information on services offered, including specific care types and any additional programs.
07
Review the completed report for accuracy and compliance with applicable standards.
08
Submit the report to the relevant authorities by the specified deadlines.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities that receive government funding.
02
Regulatory agencies monitoring long-term care services.
03
Financial analysts and stakeholders reviewing the performance of care facilities.
04
Researchers and policymakers focused on the long-term care system.
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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 and presents financial and operational data related to the management of long-term care facilities, ensuring compliance with regulations and providing insights into facility performance.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive Medicaid and/or Medicare funding are typically 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 need to gather relevant financial and operational data, follow the provided guidelines, complete each section with accurate data, and verify the information before submission.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to monitor the financial health and operational performance of long-term care facilities, ensuring transparency, accountability, and proper use of public funds.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include financial data such as revenue, expenses, and occupancy rates, as well as demographic information about residents, staffing levels, and other operational statistics.
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