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This document outlines the financial and statistical information required by the Illinois Department of Public Aid for long-term care facilities for the fiscal year 2004.
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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 necessary financial data including income, expenses, and resident statistics.
02
Ensure all data is accurate and up-to-date, reflecting the current financial status of the facility.
03
Start filling in sections related to revenue, including patient revenue, government funding, and private pay.
04
Enter all operational expenses, categorized by types such as staffing, utilities, and medical supplies.
05
Complete the statistical section by inputting data on resident demographics, admissions, discharges, and occupancy rates.
06
Review all entered information for accuracy and completeness before submission.
07
Submit the report by the required deadline, ensuring you have copies for your records.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities needing to comply with regulatory requirements.
02
Management and administrative staff to assess financial health and planning.
03
Regulatory bodies and oversight organizations requiring financial transparency.
04
Investors or stakeholders seeking to evaluate the viability of the facility.
05
Accountants and auditors for financial analysis and reporting purposes.
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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 comprehensive document that assesses the financial performance and statistical data of long-term care facilities, providing insights into their operations, funding, and service delivery.
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, are required to file the Financial and Statistical Report regularly, typically mandated by state and federal regulations.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must collect relevant financial and operational data, follow the specific guidelines provided by the regulatory body, and ensure accuracy in reporting patient days, revenues, and expenses associated with their operations.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to create transparency regarding the financial health and operational statistics of long-term care facilities, enabling regulators, policymakers, and stakeholders to make informed decisions and improve care quality.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include information on total revenues, expenses, number of residents, patient days, staffing levels, payer source breakdowns, and other key operational metrics relevant to the facility's performance.
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