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This document is a comprehensive financial and statistical report for long-term care facilities required by the Illinois Department of Healthcare and Family Services, detailing operational data, expenses,

How to fill out financial and statistical report

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

1. Gather all financial documents related to the facility, including income statements, balance sheets, and expenditure reports.
2. Review the previous year's FINANCIAL AND STATISTICAL REPORT for reference and consistency.
3. Fill out the demographic section, including the number of residents, staff, and facility type.
4. Input revenue data, categorizing it into operational income, grants, and any other funding received.
5. Document all expenditures, splitting them into direct care costs, administrative expenses, and any capital costs.
6. Provide statistical data relating to resident care outcomes and facility performance metrics.
7. Double-check all entries for accuracy and completeness.
8. Submit the report according to the specified guidelines and deadlines set by relevant authorities.

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

1. Long-term care facility administrators and financial officers.
2. Government agencies for compliance and regulatory purposes.
3. Investors or stakeholders interested in facility performance.
4. Healthcare organizations conducting research or evaluations.

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 a document that provides comprehensive financial data and operational statistics related to long-term care facilities, enabling regulatory agencies and stakeholders to assess the financial health and operational efficiency of these facilities.

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

Long-term care facilities that receive state or federal funding, including nursing homes and assisted living facilities, are typically required to file the Financial and Statistical Report to ensure compliance with regulatory requirements.

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

To fill out the Financial and Statistical Report, facilities must gather appropriate financial statements, ensure that all statistical data is accurate, and follow the specific guidelines provided by the state or regulatory authority, including the use of standardized definitions and formats.

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, ensure proper allocation of resources, monitor the financial status of long-term care facilities, and assist in the evaluation of care quality and service delivery for residents.

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

The report must include financial information such as revenues, expenditures, operating costs, as well as statistical data like the number of residents, staff-to-resident ratios, occupancy rates, and service types provided at the facility.