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

This document serves as a financial and statistical report submitted by long-term care facilities in Illinois, including necessary disclosures, certifications, and various statistical data related

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 related to the facility, including budgets, revenue records, and cost reports.
2. Understand the reporting period for the report to accurately reflect financial data.
3. Select the appropriate financial reporting template or form that is required for Long-Term Care Facilities.
4. List all sources of income including patient fees, government funding, and other revenue streams.
5. Detail all expenses, categorizing them into fixed and variable costs.
6. Provide statistical data, such as the number of residents, occupancy rates, staffing levels, and service utilization.
7. Ensure all figures are accurate and complete, double-checking calculations.
8. Fill in all required sections of the report systematically, ensuring clarity and coherence.
9. Include any additional notes or explanations for figures that may need clarification.
10. Review the completed report for errors before submitting it to the relevant authorities.

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

1. Administrators and managers of Long-Term Care Facilities who need to track financial performance.
2. Regulatory agencies that require financial data to ensure compliance and allocate funding.
3. Investors or stakeholders interested in the financial health of the facility.
4. Health care professionals and staff who need to understand the facility's funding and financial status.
5. Researchers studying the economics of long-term care services.

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 comprehensive document that collects financial and operational data from long-term care providers. It typically includes information on revenues, expenses, patient demographics, staffing, and facility capacities.

Who is required to file Financial and Statistical Report for Long-Term Care Facilities?

Long-term care facilities that receive Medicare or Medicaid funding are generally required to file this report. This includes nursing homes, assisted living facilities, and other care facilities operating under government healthcare programs.

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

To fill out the report, facilities must gather relevant financial data, including income statements, balance sheets, and operational statistics. They should accurately complete each section of the report according to regulatory guidelines and submit it by the specified deadline.

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

The purpose of the report is to provide state and federal health care agencies with data to monitor financial performance, assess the adequacy of care provided, ensure compliance with regulations, and facilitate resource allocation.

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

The report must include detailed financial information such as total revenues, operating expenses, net income, as well as statistical data on the number of residents, staffing levels, occupancy rates, and quality of care metrics.