Get the free Financial and Statistical Report for Long-Term Care Facilities - www2 illinois

This document is a financial and statistical report for long-term care facilities in Illinois, detailing operational metrics, financial performance, and compliance with state regulations for the fiscal

How to fill out financial and statistical report

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

1. Gather necessary financial documents such as income statements, balance sheets, and cash flow statements.
2. Review the reporting period and ensure that all data is for that specific timeframe.
3. Input all revenue sources, including patient care revenue, investments, and other income, into the appropriate sections of the report.
4. List all expenses, including salaries, operational costs, and facility maintenance, making sure to categorize them accurately.
5. Calculate the net income by subtracting total expenses from total revenue.
6. Complete the statistical section by collecting data on resident demographics, occupancy rates, and staffing levels.
7. Ensure compliance with federal and state reporting requirements by checking for any required appendices or additional documentation.
8. Review the report for accuracy and completeness before submission.
9. Obtain necessary signatures from management and financial officers.
10. Submit the report by the deadline to the appropriate regulatory agency.

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

1. Long-term care facility administrators and managers who need to assess financial health.
2. State and federal regulatory agencies for oversight and compliance.
3. Investors or stakeholders interested in the facility's financial performance.
4. Auditors who may need this information for financial reviews.
5. Insurance companies that require data for reimbursement processes.

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 that collects essential financial and operational data from long-term care facilities to ensure compliance with regulations and to assess the facility's performance.

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 typically required to file the Financial and Statistical Report as part of their regulatory obligations.

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

To fill out the report, facilities need to gather detailed information regarding their finances, resident demographics, care services provided, and operational statistics, following the specific guidelines and format provided by the regulatory body.

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

The purpose of the report is to provide transparency, promote accountability, assess financial viability, and ensure that facilities maintain high standards of care for residents.

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

The report typically requires information on revenue, expenses, occupancy rates, staff counts, resident demographics, services provided, and any additional data required by the regulatory authority.