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This document is a financial and statistical report required by the State of Illinois for long-term care facilities, detailing financial data, operational statistics, and various compliance information

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 records and data related to the long-term care facility.
2. Ensure you have the correct reporting period and any specific guidelines provided by your regulatory body.
3. Fill in the facility identification information, such as name, address, and license number.
4. Input revenue figures from various sources like patient payments, government funding, and private pay.
5. List all expenses related to operating the facility, including salaries, utilities, and maintenance costs.
6. Detail capital expenditures and any investments made during the reporting period.
7. Include statistical data relevant to the facility, such as occupancy rates, staff to resident ratios, and resident demographics.
8. Review all entered data for accuracy, ensuring no calculations are missed.
9. Submit the report by the deadline established by your state or regulatory body.

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

1. Long-term care facilities owned by private companies, non-profits, or government entities.
2. Administrators and managers of long-term care facilities responsible for financial oversight.
3. State and federal regulatory agencies that require financial reporting for compliance and oversight.
4. Investors and stakeholders who need insights into the financial health of the facility.

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 comprehensive document that collects detailed financial and operational data from long-term care providers. It is used to assess the financial performance and operational efficiency of such facilities.

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

All licensed long-term care facilities, including nursing homes and assisted living establishments, are typically required to file the FINANCIAL AND STATISTICAL REPORT on an annual basis as mandated by state regulations.

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

To fill out the report, facilities must gather financial statements, occupancy data, staffing information, and other operational statistics. The form should be completed accurately, ensuring adherence to relevant accounting principles and regulatory guidelines, and submitted electronically or in hard copy as prescribed.

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

The purpose of the report is to provide regulatory agencies and stakeholders with insights into the financial health and service levels of long-term care facilities, supporting policy development and funding decisions.

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

The report must include information on revenue, expenses, patient census, staffing levels, service utilization rates, and other key performance indicators that reflect the operational status and financial condition of the facility.