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This document is a financial and statistical report required for long-term care facilities in Illinois, detailing their operations for the fiscal year 2005, including financial data, bed capacity,
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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 financial data relevant to the Long-Term Care Facility including income, expenses, and capital expenditures.
02
Compile statistical data on resident demographics, services provided, and occupancy rates.
03
Use the financial data to fill out line items for revenue, operating expenses, and administrative costs on the report.
04
Input the statistical data in the corresponding sections, ensuring accuracy in numbers such as total residents served and average length of stay.
05
Review the filled report for completeness and consistency, verifying that all calculations are correct.
06
Submit the report by the designated deadline to the applicable overseeing authority or agency.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-Term Care Facility administrators and financial officers.
02
State and federal regulatory agencies that monitor health care facilities.
03
Funding organizations and insurance companies that require financial accountability.
04
Researchers and analysts studying the long-term care sector.
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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 collects and summarizes financial and operational data from long-term care facilities to ensure regulatory compliance and monitor the quality of care provided.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Typically, licensed long-term care facilities, such as nursing homes and skilled nursing facilities, are required to file this report as part of their compliance with state and federal regulations.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must gather their financial data, operational statistics, and necessary supporting documentation. They should follow the guidelines provided by the governing body that oversees long-term care in their jurisdiction, ensuring that all required sections are completed accurately.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide transparency regarding the financial performance and operational metrics of long-term care facilities, which helps regulatory agencies assess compliance, allocate funding, and improve the quality of care.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Facilities must report financial information such as revenue, expenses, and profit margins, as well as statistical data including occupancy rates, staff-to-resident ratios, and patient demographics.
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