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This document is a financial and statistical report submitted by long-term care facilities to the State of Illinois Department of Public Aid, detailing financial data, ownership structure, patient

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 and data related to the long-term care facility, including revenue, expenses, assets, and liabilities.
2. Identify the specific reporting period for which the Financial and Statistical Report is being prepared.
3. Fill out the revenue section, detailing all income sources such as patient fees, government funding, and donations.
4. Complete the expenses section, listing all costs incurred, including salaries, utilities, supplies, and maintenance.
5. Provide accurate statistics on resident demographics, such as the number of residents, their ages, and health conditions.
6. Ensure all figures are current and reflect the agreed-upon accounting methods.
7. Review all entries for accuracy and completeness before submission.
8. Consult any relevant guidelines or requirements set by regulatory bodies related to long-term care facilities.

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

1. Long-term care facilities that require documentation for compliance with regulatory standards.
2. Management and administrative staff needing to assess the financial health and operational efficiency of the facility.
3. State and federal government agencies that oversee funding and regulatory compliance.
4. Investors or stakeholders interested in evaluating the performance of the long-term care facility.
5. Researchers studying trends and statistics in 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 detailed document that collects financial and operational data from long-term care facilities, including nursing homes and assisted living facilities, to assess their performance, financial health, and resource utilization.

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

Long-term care facilities that receive Medicaid and/or Medicare funding are typically required to file the Financial and Statistical Report. This includes nursing homes and other care facilities that provide services to eligible patients.

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

To fill out the Financial and Statistical Report, facilities must gather their financial records, operational statistics, and demographic data of the residents, and then input this information into the standardized reporting form as prescribed by the regulatory body, usually including sections for revenue, expenses, and occupancy rates.

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 state and federal regulators with vital information to evaluate the financial viability and quality of care provided by long-term care facilities, ensuring compliance with regulatory standards and facilitating funding decisions.

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

The report typically requires information on facility revenues, operating expenses, number of residents, staffing levels, bed occupancy rates, types of services provided, and any additional data relevant to the facility's operational performance.