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This document is a financial and statistical report required by the Illinois Department of Healthcare and Family Services for long-term care facilities to report on their financial status, statistical
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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 necessary financial documents related to the long-term care facility.
02
Organize financial data including revenue, expenses, and funding sources.
03
Prepare statistical data on resident demographics, occupancy rates, and staffing levels.
04
Fill out the template of the Financial and Statistical Report using the organized data.
05
Review all entries for accuracy and completeness.
06
Submit the completed report by the designated deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Government agencies responsible for healthcare oversight.
02
Long-term care facility administrators and managers.
03
Financial auditors and accountants.
04
Stakeholders and investors interested in facility performance.
05
Regulatory bodies that monitor compliance and funding.
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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 mandated document that provides detailed financial and operational data about long-term care facilities, including nursing homes and similar establishments, to ensure compliance with regulations and allow for evaluation of the facility's performance.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities that receive state or federal funding are required to file the Financial and Statistical Report for Long-Term Care Facilities to maintain compliance with regulatory standards.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report for Long-Term Care Facilities, facilities must gather financial data such as revenue, expenses, and staffing information, follow the provided guidelines and templates, and ensure accuracy before submitting the report to the relevant authorities.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report for Long-Term Care Facilities is to collect essential data that allows regulatory agencies to assess the financial health and operational efficiency of long-term care facilities, ensuring accountability and transparency in the care provided to residents.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The information reported on the Financial and Statistical Report for Long-Term Care Facilities includes financial data such as revenue sources, expenditures, occupancy rates, staffing levels, and other key performance indicators relevant to the facility's operations.
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