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This document is a financial and statistical report required for long-term care facilities in Illinois, providing detailed information regarding the facility's performance in the fiscal year 2001.

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, including balance sheets, profit and loss statements, and cash flow statements.
2. Review the regulations and guidelines specific to Long-Term Care Facilities to ensure compliance.
3. Start with the Financial section: input all revenue streams, including patient care and ancillary services.
4. Document all operating expenses, such as salaries, utilities, and supplies, in the appropriate categories.
5. Calculate net income by subtracting total expenses from total revenue.
6. Move on to the Statistical section: collect data on resident demographics, including age, gender, and admission rates.
7. Record staffing information, such as total staff hours and staff-to-resident ratios.
8. Analyze service utilization rates, including occupancy rates and average length of stay.
9. Review all entries for accuracy and completeness before finalizing the report.
10. Submit the report to the relevant regulatory authorities by the specified deadline.

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

1. Long-term care facility administrators.
2. Regulatory agencies overseeing healthcare facilities.
3. Financial auditors and accountants who assess financial health.
4. Government agencies that require data for funding and policy-making.
5. Healthcare analysts and researchers studying trends in long-term care.

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 provides detailed financial and operational data about a long-term care facility. It typically includes financial performance indicators, resident demographics, facilities' costs, and service utilization statistics to evaluate the operation and sustainability of the facility.

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

Long-term care facilities that participate in federal or state reimbursement programs, including nursing homes and assisted living facilities, are generally required to file the Financial and Statistical Report. This includes facilities receiving Medicare or Medicaid funds.

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

To fill out the Financial and Statistical Report, facilities need to gather financial records and operational data for the reporting period. They should complete each section of the report accurately, detailing income, expenses, resident statistics, and any relevant operational metrics. It is important to follow the guidelines and instructions provided by the respective 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 aids regulatory agencies in monitoring the financial health and service quality of these facilities, and it assists in resource allocation and policy-making.

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

The report must include financial statements such as balance sheets and income statements, resident census data, staffing levels, service utilization rates, costs of services, and any other relevant financial indicators. Specific data required may vary based on state or federal guidelines.