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This document is a financial and statistical report required for long-term care facilities in Illinois for the fiscal year 2006, including details on services provided, expenses, ownership information,
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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 all relevant financial documents, including income statements and expense reports.
02
Review the guidelines provided by the overseeing health authority to ensure compliance.
03
Begin by entering total revenue figures in the designated section.
04
List all operational expenses, categorized by type (e.g., labor, supplies, overhead).
05
Calculate net income by subtracting total expenses from total revenue.
06
Complete the statistical section by collecting data on resident demographics, admissions, and discharges.
07
Double-check all entries for accuracy and completeness.
08
Sign the report certifying that the information is true and correct.
09
Submit the report by the specified due date through the required submission channel.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities required to comply with regulatory reporting standards.
02
State health departments that monitor and assess facility performance.
03
Medicare and Medicaid programs for reimbursement eligibility and audits.
04
Researchers and policymakers analyzing trends in long-term care economics.
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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).
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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 and operational data on long-term care facilities to ensure compliance with regulatory standards and to evaluate the financial health and performance of these facilities.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive funding from state Medicaid programs or that participate in Medicare are required to file the Financial and Statistical Report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must gather relevant financial and operational data, complete the designated sections with accurate information, and submit the report by the specified deadline, ensuring adherence to the guidelines provided by regulatory authorities.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide transparency regarding the financial operations of care facilities, allow for the assessment of facility performance, and ensure compliance with state and federal regulations regarding funding and service delivery.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include information such as facility operating costs, revenue sources, patient statistics, staffing levels, and other financial metrics necessary for evaluation of care quality and operational sustainability.
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