Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois
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This report outlines financial and statistical data for Pine Lawn Manor, a long-term care facility, for the fiscal year 2003, as required by the Department of Public Aid in Illinois.
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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 necessary financial documents including invoices, receipts, and bank statements.
02
Review the reporting period and determine the relevant data to include.
03
Complete the financial sections by inputting revenue, expenses, and other financial metrics accurately.
04
Fill out the statistical sections with data on patient demographics, staffing levels, and service utilization.
05
Ensure that all entries are backed by appropriate documentation to facilitate verification.
06
Double-check all calculations for accuracy to prevent errors.
07
Submit the completed report by the specified deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facility administrators
02
Financial officers in healthcare organizations
03
Regulatory bodies overseeing long-term care services
04
Policy makers and researchers analyzing healthcare trends
05
Investors and stakeholders interested in the performance of care facilities
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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.
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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.
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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.
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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.
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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 comprehensive document that collects financial, operational, and statistical data from long-term care facilities to evaluate their performance, compliance, and funding needs.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, including nursing homes and skilled nursing facilities, are typically required to file the Financial and Statistical Report as mandated by state and federal regulations.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities should gather accurate data on their financial operations, patient care statistics, and other required information, then follow the specific reporting guidelines provided by regulatory agencies to complete the report correctly.
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 accountability, facilitate monitoring by regulatory bodies, and inform policy decisions affecting long-term care services and funding.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include details on facility revenues and expenditures, patient demographics, staffing levels, occupancy rates, and other operational metrics critical for evaluating the facility's performance and compliance with regulations.
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