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This document is a mandatory financial and statistical report for long-term care facilities in Illinois, providing detailed information about operational statistics, costs, and revenue for the fiscal
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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 financial documents, including income statements and balance sheets.
02
Collect statistical data relevant to resident care, including census data and staffing levels.
03
Identify the reporting period for the financial and statistical data.
04
Fill out the required sections of the report, starting with the financial summary.
05
Input detailed revenue and expenditure figures into the designated financial sections.
06
Complete the statistical sections with accurate data on resident demographics, admissions, and discharges.
07
Review the completed report for accuracy and compliance with guidelines.
08
Submit the report through the designated electronic system or by mail as required.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities are required to submit these reports to regulatory agencies.
02
State and federal health departments use the reports for oversight and funding decisions.
03
Researchers and policy makers may utilize the data for studies on long-term care services.
04
Insurance companies may require these reports to assess risk and determine coverage.
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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 providers, which helps in assessing the performance, financial stability, and service delivery of these facilities.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive state or federal funding or meet specific regulatory requirements are required to file the Financial and Statistical Report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities should gather financial records, operational data, and statistical information about patients and services, following the prescribed format and guidelines provided by the regulatory body.
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, monitor financial performance, and evaluate the quality of care provided in long-term care facilities, thereby aiding in decision-making and policy formulation.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Facilities must report financial data such as revenue, expenses, and assets, along with statistical information including the number of residents, staff-to-resident ratios, and types of services provided.
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