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

This document serves as a comprehensive financial report for long-term care facilities in Illinois, detailing operational statistics, expenses, revenues, and compliance with healthcare regulations

How to fill out financial and statistical report

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

1. Begin by gathering all necessary financial data, including income statements and expense reports.
2. Review the guidelines provided by the relevant authorities for specific reporting requirements.
3. Fill out the sections related to income, detailing sources such as government funding, patient fees, and donations.
4. Record detailed expenses, categorizing them by type (e.g., staffing, supplies, maintenance).
5. Complete the statistical section, which may include the number of residents, their admission and discharge rates, and staff-to-resident ratios.
6. Ensure that all figures are accurate and backed by documentation.
7. Review the report for completeness and compliance with any regulations or standards.
8. Submit the report to the required governing bodies or agencies by the specified deadline.

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

1. Long-term care facilities must prepare this report for compliance with government regulations.
2. State and federal agencies require these reports to assess funding needs and facility performance.
3. Health care regulators and auditors need this information for monitoring and evaluations.
4. Facility administrators use the report for internal financial planning and management.

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 comprehensive document that collects financial data and operating statistics from long-term care providers. It is used to assess the financial health and operational performance of these facilities.

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

All licensed long-term care facilities, including nursing homes and assisted living facilities, are required to file the Financial and Statistical Report as part of their regulatory obligations to state health departments.

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

To fill out the Financial and Statistical Report, facilities need to gather their financial records, including income statements, balance sheets, and statistical data regarding resident services. They should follow the specific instructions provided in the report guidelines and submit the completed document to the appropriate state agency by the designated 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 regarding the financial operations of long-term care facilities, enable better oversight and regulation by health authorities, and support funding and reimbursement decisions.

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

The report must include detailed financial information such as revenue sources, expenses, number of residents, staffing levels, and occupancy rates. Additionally, it may require data on resident demographics and facility services provided.