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This document serves as a financial and statistical report for long-term care facilities in Illinois for the fiscal year 2006, detailing financial data, occupancy statistics, and operational information

How to fill out financial and statistical report

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

1. Gather necessary financial data: Collect all revenues, expenses, and any relevant financial statements for the reporting period.
2. Organize statistical data: Compile resident information, such as the number of admissions, discharges, and daily census.
3. Begin with the financial section: Input total revenue, including government reimbursements and private payments.
4. Detail expenses: Break down costs by categories such as personnel, supplies, and maintenance.
5. Calculate net income: Subtract total expenses from total revenue to determine the facility's profit or loss.
6. Fill out statistical data: Provide figures on resident demographics, services provided, and length of stay.
7. Review for accuracy: Ensure all figures are correct and that there are no discrepancies.
8. Submit the report: Send the completed Financial and Statistical Report to the appropriate regulatory authority.

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

1. Long-term care facilities such as nursing homes, assisted living facilities, and rehabilitation centers.
2. State and federal agencies that oversee and regulate long-term care.
3. Insurance companies and financial institutions involved in funding and reimbursement processes.
4. Stakeholders including facility administrators and management teams who need insights for operational decisions.

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 document that collects data on the financial operations, performance metrics, and statistical information of long-term care facilities. It aims to provide transparency and support for regulatory compliance.

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

Long-term care facilities that receive public funding or meet certain regulatory requirements are required to file the Financial and Statistical Report. This typically includes nursing homes, skilled nursing facilities, and other types of 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 should gather accurate operational data, financial statements, and any required supporting documentation. They then complete the report form according to guidelines provided by the regulatory body, ensuring that all fields are accurately filled and verified.

What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?

The purpose of the Financial and Statistical Report is to provide regulatory agencies with essential information to monitor and assess the financial viability and operational effectiveness of long-term care facilities. It also aids in policy-making and resource allocation.

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

The report must include financial data such as revenue and expenses, operational statistics like patient census, staffing levels, and other relevant metrics that reflect the facility's performance and compliance with regulatory standards.