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This document is a financial and statistical report submitted by long-term care facilities to the Illinois Department of Public Aid, outlining various operational and financial details necessary for

How to fill out financial and statistical report

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

1. Gather all necessary financial documents including income statements, balance sheets, and cash flow statements.
2. Collect statistical data such as resident demographics, occupancy rates, and service utilization.
3. Log into the reporting system or download the financial and statistical report template.
4. Begin by filling out the basic facility information including name, address, and license number.
5. Input the financial data section by section, ensuring all entries match the accounting records.
6. Fill in the statistical data concerning the number of residents, staffing levels, and services provided.
7. Double-check all entries for accuracy and consistency with your collected data.
8. Complete any summary sections or additional comments required by the form.
9. Submit the report by the designated deadline, ensuring you retain a copy for your records.

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

1. Long-term care facilities needing to report financial and statistical information to regulatory authorities.
2. Administrators of nursing homes, assisted living facilities, and other caregiving environments.
3. State and federal agencies overseeing health and elder care services.
4. Research institutions or organizations analyzing trends in long-term care.

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 financial document that collects data on the fiscal performance, operations, and statistical metrics of long-term care providers, which includes nursing homes, assisted living facilities, and other related organizations.

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

Long-term care facilities that receive funding from Medicare or Medicaid programs are typically required to file the FINANCIAL AND STATISTICAL REPORT, along with other facilities based on state regulations.

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

To fill out the report, facilities need to gather financial data including revenues, expenses, occupancy rates, and staffing information. They must follow the specific guidelines provided by state or federal agencies, ensuring that all required sections are completed accurately and submitted by the deadline.

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

The purpose of the report is to provide transparency and accountability in the financial management of long-term care facilities, enabling regulatory bodies to assess financial viability, ensure compliance with regulations, and evaluate service quality.

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

The information required includes total revenues, total expenses, payroll data, average daily census, occupancy rates, and other operational statistics relevant to the facility's performance and service delivery.