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This document is a financial and statistical report required for long-term care facilities in Illinois, detailing their operational data for the fiscal year 2007, including licensing, certification,

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 documents, including previous reports, budget statements, and accounting records.
2. Ensure you have access to resident data, staffing information, and operational costs.
3. Follow the provided guidelines to categorize financial information accurately, including revenue, expenses, and reimbursements.
4. Input data for resident days, occupancy rates, and patient demographics as required by the report.
5. Review the report sections thoroughly to ensure all information is complete and accurate.
6. Consult with your accounting team or a financial advisor if you encounter any discrepancies or uncertainties.
7. Submit the report by the specified deadline to the appropriate regulatory body or organization.
8. Keep a copy of the completed report for your own records and future reference.

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

1. State and federal regulatory agencies for compliance and oversight.
2. Long-term care facility administrators for financial management.
3. Accounting professionals involved in audits and reviews.
4. Healthcare policymakers to analyze trends and funding needs.
5. Investors or stakeholders interested in the financial health of the facility.

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 captures financial, operational, and statistical data regarding long-term care facilities. This report is used by regulatory bodies to evaluate the financial health and service delivery capabilities of these institutions.

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

All licensed long-term care facilities, including nursing homes and assisted living facilities, are typically required to file the Financial and Statistical Report as mandated by state or 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 gather accurate financial records, including income, expenses, and statistics on resident care. The report usually includes specific sections that need to be completed with relevant data. Facilities should follow the guidelines provided by the regulatory agency and ensure all information is accurate and up to date.

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 transparency and accountability in the operations of long-term care facilities. It helps governmental agencies assess compliance with financial standards, monitor quality of care, and allocate funding appropriately.

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

The report must include detailed financial information such as revenue, expenditures, operating costs, and statistics on resident demographics, staffing levels, quality of care indicators, and occupancy rates. Additional metrics may also be required depending on state or federal guidelines.