Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois

This document serves as a comprehensive financial and statistical report required by the Illinois Department of Public Aid for long-term care facilities, detailing financial performance, occupancy

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 documents and data relevant to your long-term care facility.
2. Identify the reporting period for which the financial data is being prepared.
3. Fill out the facility identification section including name, address, and contact information.
4. Complete the revenue section with details on all income sources, including Medicare, Medicaid, private payments, and any other revenue streams.
5. Document all expenses associated with operating the facility, including staff salaries, utilities, supplies, and maintenance costs.
6. Provide statistical data such as resident census and demographic information.
7. Review all entries for accuracy and completeness before submission.
8. Submit the report to the appropriate regulatory authority by the established deadline.

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

1. Long-term care facilities must fill out the Financial and Statistical Report to comply with state and federal regulations.
2. Regulatory agencies require these reports to monitor facility performance and ensure compliance with financial standards.
3. Potential investors and stakeholders might need this report to assess the facility's financial health.
4. Insurance companies may require this report to determine coverage and reimbursement rates.

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 document that collects and summarizes financial and operational data from long-term care facilities, including nursing homes and assisted living facilities, to provide oversight and ensure compliance with state and federal regulations.

Who is required to file Financial and Statistical Report for Long-Term Care Facilities?

Long-term care facilities that receive Medicaid funding or are licensed by state agencies 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 Financial and Statistical Report, facilities must gather financial records, operational data, and statistical information, complete the required sections according to the guidelines provided by the regulatory authority, and ensure that all information is accurate and submitted by the deadline.

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 transparency and accountability in the financial operations of long-term care facilities, facilitate funding decisions, and ensure that facilities meet quality care standards.

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

The report typically requires information on budgeted versus actual revenues, expenditures, patient demographics, service utilization, staffing levels, and other relevant operational statistics.