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This document provides a comprehensive financial and statistical report for long-term care facilities in Illinois for the fiscal year 2006, including details about revenues, expenses, services provided,
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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 financial data including revenues, expenses, and operating costs.
02
Determine the reporting period for the financial and statistical data.
03
Complete the revenue section by itemizing sources such as Medicare, Medicaid, and private pay.
04
Fill in the expense section detailing costs related to staffing, supplies, and facilities maintenance.
05
Ensure that all data is accurate and reflective of the reporting period.
06
Review the statistics section, including resident count, staff-to-resident ratios, and occupancy rates.
07
Verify that all sections are complete and comply with regulatory standards.
08
Submit the report to the relevant authority by the deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities such as nursing homes and assisted living facilities need the report for compliance.
02
Regulatory agencies require the report for funding and oversight.
03
Financial institutions may request the report for loan applications or financial assessments.
04
Researchers and policymakers might use the report to analyze trends in long-term care.
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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 standardized document that long-term care providers must complete to detail their financial performance, operational statistics, and quality of care metrics.
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 participate in Medicare and Medicaid programs 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 Financial and Statistical Report, facilities must gather relevant financial documents and statistical data, complete the form using the provided financial categories and codes, and ensure all data is accurate before submission by the deadline.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The primary purpose of the Financial and Statistical Report is to ensure transparency in financial operations, assist in the allocation of Medicaid funding, and provide data to assess the quality and effectiveness of long-term care services.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Facilities must report information including total revenue, operating expenses, bed occupancy rates, staffing levels, and other pertinent operational statistics that reflect the quality of care and financial health of the facility.
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