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This document provides financial and statistical reporting for long-term care facilities in Illinois, including details on operations, costs, and revenue. It is intended for compliance with state

How to fill out financial and statistical report

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

1. Gather financial documents, including income statements, balance sheets, and cash flow statements.
2. Review the guidelines and requirements for the Financial and Statistical Report specific to Long-Term Care Facilities.
3. Fill in the general information section, including the facility name, address, and contact information.
4. Input the revenue sources, such as Medicare, Medicaid, and private pay, along with the respective amounts.
5. Report on operating expenses, breaking down costs into categories such as staff salaries, supplies, and maintenance.
6. Fill in the statistical data, including the number of residents, occupancy rates, and staff-to-resident ratios.
7. Ensure accuracy by cross-referencing the financial information with your internal records.
8. Review the completed report for compliance with federal and state requirements.
9. Submit the report by the designated deadline, ensuring all required documentation is attached.

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

1. Long-term care facility administrators who need to assess financial performance.
2. State and federal regulatory agencies that require financial reporting for compliance.
3. Investors or stakeholders interested in the financial health of the facility.
4. Auditors conducting reviews of financial statements.
5. Planning agencies that use the data for budget and resource allocation.

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 required by regulatory agencies that provides financial data, operational statistics, and other relevant information about the facility's performance and resources.

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 receive government funding or are licensed by state health departments, 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 must gather financial records, operational data, and demographic information, then accurately complete each section of the report as per the instructions provided by the governing body overseeing the report.

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

The purpose of the Financial and Statistical Report is to ensure transparency and accountability in financial operations, to analyze the facility’s performance, and to inform funding decisions and regulatory compliance.

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

The report must include financial data such as revenues, expenditures, and funding sources, as well as operational statistics like occupancy rates, staff-to-resident ratios, and quality measures.