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

This document serves as a financial and statistical report required by the Illinois Department of Public Aid for long-term care facilities, detailing financial data, services offered, and compliance

How to fill out financial and statistical report

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

1. Gather necessary financial documents and data from the facility.
2. Review the reporting guidelines specific to long-term care facilities.
3. Identify the relevant time period for the report (monthly, quarterly, annually).
4. Complete the income section by entering all revenues received from patient care, government funding, and other sources.
5. Detail all expenses, including payroll, operational costs, and any capital expenditures.
6. Calculate the net income by subtracting total expenses from total revenues.
7. Fill out the statistical section by compiling data on patient demographics, average length of stay, and occupancy rates.
8. Verify all data for accuracy and compliance with regulatory standards.
9. Submit the completed report to the appropriate government or oversight agency by the deadline.

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

1. State and federal regulatory agencies to ensure compliance and funding allocation.
2. Long-term care facility administrators for internal financial planning and resource management.
3. Health care policymakers for evaluating trends and making informed decisions.
4. Financial auditors to assess the health and performance of the facility.

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 provides a comprehensive overview of the financial performance and operational statistics of long-term care facilities, helping regulators and stakeholders assess the quality and efficiency of the services provided.

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 participate in state and federal healthcare programs, such as Medicaid and Medicare, are typically required to file this report.

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

To fill out the Financial and Statistical Report, facilities should gather relevant financial records, operational data, and statistics on patient care. The report usually includes specified sections that require accurate data entry regarding revenues, expenses, staffing, and resident demographics, following the guidelines provided by regulatory agencies.

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

The purpose of the Financial and Statistical Report is to enhance transparency, accountability, and oversight of long-term care facilities. It allows regulators to monitor financial performance, ensure compliance with funding requirements, and assess the quality of care provided to residents.

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

The information required typically includes financial data such as total revenue and expenses, statistics on resident care like admissions and discharges, staffing levels, quality measures, and any other operational metrics as specified by regulatory authorities.