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

This document is a detailed financial and statistical report for the P A Peterson Home F/T Aged long-term care facility, summarizing its operations, revenues, expenses, and related data for fiscal

How to fill out financial and statistical report

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

1. Gather all financial documents related to the long-term care facility, including revenue, expenses, and payroll information.
2. Identify the reporting period for the financial and statistical report.
3. Fill out the revenue section by listing all sources of income, such as patient fees, government reimbursements, and other income sources.
4. Document all expenses grouped by categories such as staff salaries, utilities, supplies, and maintenance.
5. Calculate net income by subtracting total expenses from total revenue.
6. Compile statistical data, including the number of residents, occupancy rates, staffing levels, and any other relevant metrics.
7. Review all entries for accuracy and compliance with local regulations.
8. Submit the completed report to the appropriate regulatory agency by the specified deadline.

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

1. Long-term care facilities, such as nursing homes and assisted living centers.
2. Facility administrators for budget planning and financial analysis.
3. State and federal government agencies for regulatory compliance and funding.
4. Stakeholders and investors interested in the financial health of the facility.
5. Auditors and accountants responsible for evaluating the financial statements of the facility.

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 outlines the financial performance and operational statistics of long-term care providers, which includes data on revenue, expenses, patient care metrics, and staffing levels.

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

Long-term care facilities, such as nursing homes and rehabilitation centers, that receive Medicaid and Medicare funding are typically required to file the Financial and Statistical Report to ensure compliance with regulatory standards and to provide transparency in financial operations.

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

To fill out the Financial and Statistical Report, facilities must gather and accurately report financial data including income, expenditures, and operational statistics. Careful attention should be given to following the guidelines provided by the regulatory authority, ensuring all sections are completed thoroughly and correctly.

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

The purpose of the Financial and Statistical Report is to provide oversight and transparency regarding the financial health and operational efficacy of long-term care facilities, to inform policymakers and funding sources, and to contribute to the quality of care delivered to residents.

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

Information that must be reported includes revenue and expenditure data, patient census figures, staffing levels, service utilization statistics, and any additional data relevant to the operations and fiscal management of the facility.