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This document is a financial and statistical report for long-term care facilities under the Illinois Department of Public Aid, providing detailed information about the facility's operations, financial

How to fill out financial and statistical report

How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES

1. Gather all relevant financial data including revenue and expenses specific to the long-term care facility.
2. Identify the reporting period for the financial and statistical report.
3. Fill out the basic information section, including the name of the facility, address, and contact information.
4. Document the total number of residents and staffing levels during the reporting period.
5. Break down and categorize all sources of revenue such as government funding, private payments, and insurance reimbursements.
6. Detail expenses across categories including staffing costs, utilities, supplies, and maintenance.
7. Calculate the net income by subtracting total expenses from total revenue.
8. Include any additional statistical data required, such as occupancy rates and patient demographics.
9. Review the report for accuracy and completeness.
10. Submit the report by the specified deadline to the appropriate regulatory bodies or relevant stakeholders.

Who needs FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

1. Long-term care facilities to report their financial performance and operational statistics.
2. Regulatory agencies and government bodies that monitor compliance and funding.
3. Investors and stakeholders interested in the financial health of the facility.
4. Healthcare analysts and researchers studying the long-term care sector.

People Also Ask about

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 largest source of financing LTC?

Medicaid — a government program that helps cover medical costs for people with limited income and assets — is the major source of funding for LTC in the United States.

What is the average monthly cost of long-term care?

Cost of care trends and insights Type of service and rate type2024 national median values2023 national median values Adult day health care Daily $100 $95 Assisted living community Monthly $5,900 $5,350 Nursing home semi-private room Monthly $9,277 $8,669 Nursing home private room Monthly $10,646 $9,7332 more rows

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).

How much does long-term care cost per month?

Cost of care trends and insights Type of service and rate type2024 national median values2023 national median values Adult day health care Daily $100 $95 Assisted living community Monthly $5,900 $5,350 Nursing home semi-private room Monthly $9,277 $8,669 Nursing home private room Monthly $10,646 $9,7332 more rows

What is the average cost of long-term care in the US?

In the United States, long-term care costs between $35,000 and $108,000 a year in 2021. Out of the three different types of long-term care we compared, private rooms in nursing homes are the most costly, with an average of $108,405 a year.

Will Medicare pay for a long-term nursing home?

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.

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 financial and operational data from long-term care facilities. It is used to assess the financial health and performance of these facilities.

Who is required to file FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

All long-term care facilities that receive state or federal funding are typically required to file the Financial and Statistical Report. This includes nursing homes and other facilities offering long-term care services.

How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

To fill out the Financial and Statistical Report, facilities should gather their financial records, including income statements, balance sheets, and operational statistics. Each section of the report must be completed accurately and in accordance with the guidelines provided by the regulatory authority.

What is the purpose of FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The purpose of the Financial and Statistical Report is to ensure transparency and accountability in the financial operations of long-term care facilities. It helps regulatory bodies monitor the facilities' financial status and compliance with funding requirements.

What information must be reported on FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The report must include information such as total revenues, expenses, occupancy rates, number of staff, and patient demographics. It may also require details about services provided, funding sources, and capital expenditures.