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

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This document serves as a financial and statistical report required by the State of Illinois detailing the operations of long-term care facilities, including income, expenses, services provided, and
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How to fill out financial and statistical report

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

01
Gather necessary financial documents, including income statements and balance sheets.
02
Review the previous year's report for reference and consistency.
03
Fill out the personal information section, including the facility name, address, and contact information.
04
Complete the financial section with accurate figures for revenue, expenses, and profit.
05
Fill in the statistical section with data on resident demographics, occupancy rates, and staffing levels.
06
Double-check all calculations and ensure all required fields are completed.
07
Review the report for compliance with state and federal regulations.
08
Submit the completed report by the required deadline.

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

01
Long-term care facilities with financial reporting obligations.
02
State and federal regulatory agencies requiring data for oversight.
03
Investors and stakeholders interested in the financial health of the facility.
04
Researchers analyzing trends in long-term care.
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People Also Ask about

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.
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.
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.
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.
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
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.
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.
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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The Financial and Statistical Report for Long-Term Care Facilities is a comprehensive document that collects financial and operational data from long-term care facilities to assess their performance, compliance, and financial stability.
Long-term care facilities that receive government funding or are regulated by state health departments are typically required to file this report.
To fill out the Financial and Statistical Report, facilities must gather relevant financial data, operational statistics, and patient demographics, and accurately input this information into the designated reporting format as required by governing bodies.
The purpose of the Financial and Statistical Report is to provide transparency, ensure accountability in the use of public funds, and enable regulators to monitor the quality of care and fiscal health of long-term care facilities.
Facilities must report a variety of information including financial data (revenues and expenses), occupancy rates, staff-to-resident ratios, service utilization, and demographic information of residents.
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