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This document serves as a financial and statistical report for the Illinois Department of Healthcare and Family Services by long-term care facilities, detailing mandatory disclosure of 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 necessary financial documents such as income statements and balance sheets.
02
Collect statistical data on resident demographics, admissions, discharges, and length of stay.
03
Access the Financial and Statistical Report template provided by regulatory bodies.
04
Fill in the general information section, including facility name, address, and reporting period.
05
Enter financial information, ensuring accuracy in reporting revenues, expenses, and assets.
06
Input statistical data, categorizing it appropriately according to the guidelines.
07
Verify all entries for consistency and accuracy against source documents.
08
Review the completed report for any missing information or errors.
09
Submit the report by the designated deadline to the appropriate regulatory agency.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities must complete the report to comply with state and federal regulations.
02
Regulatory bodies require the report for monitoring the financial health and operational statistics of care facilities.
03
Stakeholders, including management and investors, use the report for strategic planning and decision-making.
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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 required document that provides a comprehensive overview of a facility's financial operations and statistical data, including occupancy rates, staffing levels, and service delivery metrics.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, such as nursing homes and assisted living communities, are required to file the Financial and Statistical Report as part of regulatory compliance.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must collect relevant financial and operational data, follow the specific guidelines provided by regulatory authorities, and submit the completed form by the designated filing deadline.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to ensure transparency in financial practices, assess the quality of care provided, and facilitate regulatory oversight of long-term care facilities.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include details on revenue and expenses, occupancy statistics, staffing information, services provided, and other key performance indicators critical to evaluating the facility's operations.
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