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This document is a financial and statistical report required for long-term care facilities in Illinois, detailing the facility's operational statistics, expenses, ownership, and other relevant financial
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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 and data from the previous reporting period.
02
Identify and categorize the costs related to operations, including personnel, facilities, and medical supplies.
03
Complete the revenue section by listing all sources of income, including payments from Medicare, Medicaid, and private pay.
04
Fill out statistical data, such as the number of residents, staff-to-resident ratios, and occupancy rates.
05
Ensure that all financial figures are accurate and reflect the facility's fiscal activities during the reporting period.
06
Review any applicable regulatory guidelines to ensure compliance with reporting standards.
07
Submit the report by the required deadline, ensuring that all sections are completed.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facility administrators
02
State regulatory agencies overseeing healthcare providers
03
Medicare and Medicaid programs for reimbursement evaluation
04
Financial analysts assessing the facility’s financial health
05
Investors or stakeholders interested in the facility's operations
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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 financial and operational data from long-term care facilities to ensure compliance with regulatory standards and to aid in financial management.
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 that receive public funding, are typically required to file this report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
Facilities should gather relevant financial data, complete the designated sections of the report accurately, ensure all information aligns with their financial records, and submit the document as per the state or federal guidelines.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide state and federal agencies with critical data for monitoring the financial health of facilities, ensuring accountability, and analyzing trends in long-term care services.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include financial data such as revenue, expenditures, operating costs, patient census, staffing levels, and other statistical information relevant to the operation of the facility.
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