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This document serves as a financial and statistical report required by the Illinois Department of Healthcare and Family Services for long-term care facilities, documenting various aspects such as
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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
Collect all necessary financial data including revenue sources, expenses, and assets.
02
Gather statistical data related to resident care, staffing levels, and occupancy rates.
03
Use the appropriate templates or software provided by the regulatory authority for formatting the report.
04
Fill in each section of the report according to the guidelines provided, ensuring accuracy and completeness.
05
Double-check all figures for errors and inconsistencies before final submission.
06
Submit the completed report by the deadline specified by the governing body.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities operating under regulatory oversight.
02
State and federal regulatory agencies that monitor facility performance.
03
Health care consultants and financial analysts working with long-term care providers.
04
Investors or stakeholders interested in the financial health 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 provides an overview of the financial performance and statistical data of long-term care facilities, including nursing homes and assisted living facilities. It includes information on revenues, expenses, and various operational statistics.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive Medicaid and Medicare funding are usually required to file the Financial and Statistical Report. This includes nursing homes and other licensed long-term care providers.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities must gather their financial statements, operational data, and other relevant statistics. They then complete the report by filling in the required fields accurately, ensuring all data aligns with their internal records and complies with regulatory standards.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report is to ensure transparency and accountability within long-term care facilities by providing a comprehensive assessment of their financial health and operational effectiveness. It helps regulators monitor compliance with funding requirements and assess the quality of care.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include information such as total revenues, total expenses, patient days, occupancy rates, staffing levels, and other operational metrics. It may also require disclosure of financial arrangements, limits on billing, and information related to quality of care indicators.
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