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This document is a financial assessment report for Apostolic Christian Skylines, a long-term care facility in Illinois, detailing certification, ownership, operational data, expenses, and related
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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 revenue, expenses, and patient counts for the reporting period.
02
Access the FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES form.
03
Fill in the facility identification information such as name, address, and licensing details.
04
Input the total revenue generated from patient services, including private pay and insurance reimbursements.
05
Report all operational expenses, including salaries, supplies, and utilities.
06
Calculate and enter the net income by subtracting total expenses from total revenue.
07
Complete the statistical section by providing patient census data, staff-to-patient ratios, and service utilization rates.
08
Review all entered data for accuracy and completeness.
09
Sign and date the report before submission.
10
Submit the report by the specified deadline to the relevant regulatory agency.
Who needs FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?
01
Long-term care facilities such as nursing homes and assisted living centers.
02
State and federal regulatory agencies for compliance and oversight.
03
Financial auditors and analysts assessing the facility's financial health.
04
Healthcare policymakers and researchers studying long-term care trends.
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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.
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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 regulatory document that collects and summarizes financial and operational data from long-term care facilities to ensure compliance with industry standards and assess the economic viability of these 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 facilities, are typically required to file the Financial and Statistical Report to state health departments or relevant regulatory bodies.
How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?
To fill out the report, facilities must gather accurate financial data, including income, expenses, and service statistics. They should complete each section of the form according to the instructions provided, ensuring all figures are correct and supporting documentation is available.
What is the purpose of FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?
The purpose of the report is to monitor the financial health and performance of long-term care facilities, ensure proper resource allocation, and facilitate policy-making and planning by state authorities.
What information must be reported on FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?
The report typically requires information on revenue sources, expenses, staffing levels, occupancy rates, patient demographics, and other operational statistics that reflect the performance and quality of care at the facility.
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