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This document serves as a financial and statistical report required by the State of Illinois for long-term care facilities to report operational data, financial transactions, and statistics regarding

How to fill out financial and statistical report

How to fill out Financial and Statistical Report for Long-Term Care Facilities

1. Gather all financial data, including income, expenses, and asset information.
2. Review the previous year's report for consistency and accuracy.
3. Fill out the facility information section with details such as name, address, and license number.
4. Enter the gross revenue generated from patient care and other services.
5. List all operating expenses, including payroll, utilities, and supplies, in the corresponding sections.
6. Calculate and report net revenue by subtracting total expenses from gross revenue.
7. Provide statistical data, such as the total number of patients served and staffing levels.
8. Ensure that all figures are supported by documentation and are in accordance with accounting principles.
9. Review the completed report for any errors or omissions before submission.
10. Submit the report to the appropriate regulatory body by the established deadline.

Who needs Financial and Statistical Report for Long-Term Care Facilities?

1. Long-term care facility administrators
2. Financial managers of healthcare organizations
3. State and federal regulatory agencies
4. Healthcare policymakers and researchers
5. Investors and stakeholders in long-term care services

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).

For pdfFiller’s FAQs

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 provides financial and operational data about long-term care facilities, including nursing homes and other care providers that offer long-term support services.

Who is required to file Financial and Statistical Report for Long-Term Care Facilities?

Long-term care facilities that receive Medicaid or Medicare funding are typically required to file the Financial and Statistical Report, as mandated by state and federal regulations.

How to fill out Financial and Statistical Report for Long-Term Care Facilities?

To fill out the Financial and Statistical Report, facilities must collect and report data on financial performance, resident care statistics, and operational metrics, following the specific guidelines provided by the regulatory authority. This often involves using standardized forms or electronic submission portals.

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 in the operation of long-term care facilities, enabling regulatory bodies to monitor performance, allocate resources appropriately, and ensure compliance with health care standards.

What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?

The report typically requires information on revenue and expenses, occupancy rates, staffing levels, resident demographics, and quality of care indicators, as well as any other relevant operational statistics.