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This document is a financial and statistical report required for long-term care facilities in Illinois, detailing their operational and financial performance for the fiscal year 2003.
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How to fill out financial and statistical report
How to fill out Financial and Statistical Report for Long-Term Care Facilities
01
Gather all necessary financial documents, including income statements, balance sheets, and cash flow statements.
02
Review the reporting period for accuracy, ensuring that all data corresponds with the specific time frame required.
03
Fill out the demographic section with details about the facility, including the name, location, and ownership type.
04
Compile statistical data on the number of residents, staff, and services provided by the facility during the reporting period.
05
Complete the financial sections by accurately reporting revenues, expenses, and funding sources.
06
Include any relevant notes or explanations that may clarify data for the readers.
07
Review the entire report for completeness and accuracy, verifying all calculations.
08
Submit the report to the appropriate overseeing body as per regulatory requirements.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities must submit the report to state or federal regulatory bodies.
02
Healthcare administrators and management teams needing to monitor financial health and compliance.
03
Policy makers and researchers analyzing long-term care trends and financial viability.
04
Investors and stakeholders interested in the performance of long-term care facilities.
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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).
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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 captures the financial performance and operational statistics of long-term care institutions, providing data for regulatory oversight and reimbursement purposes.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities, including nursing homes and assisted living facilities that receive federal or state funding, are typically required to file this report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
Facilities must complete the report by gathering financial statements, statistical data about patient care, and other relevant information, and then inputting this data into the designated reporting format as mandated by regulatory agencies.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose is to provide a comprehensive view of a facility's financial health and operational effectiveness, aiding in policy making, regulatory compliance, and resource allocation.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Information to be reported typically includes financial data such as revenues, expenses, and patient days, alongside operational statistics like occupancy rates, staff ratios, and quality measures.
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