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This document is a financial and statistical report for long-term care facilities in Illinois, detailing licensing information, statistical data, expenses, income statements, and balance sheet information
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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 the necessary financial documents such as balance sheets, income statements, and cash flow statements.
02
Collect statistical data regarding residents including the number of admissions, discharges, and current occupancy rates.
03
Fill out the financial section by accurately entering revenues, expenses, and any other financial figures as per the guidelines provided.
04
Input the statistical data in the respective sections, ensuring correct categorization of resident information.
05
Review the report for accuracy and completeness, cross-checking financial figures with supporting documentation.
06
Submit the report via the mandated filing method, ensuring it is done before the deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities, such as nursing homes and assisted living facilities, are required to submit this report for regulatory compliance.
02
State and federal agencies need this report for funding, oversight, and assessment of the facility’s performance.
03
Healthcare administrators and financial managers within the facility use the report for internal analysis and strategic planning.
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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 standardized document that collects financial and operational data from long-term care organizations, including nursing homes, to assess their performance and compliance with regulations.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, including nursing homes and skilled nursing facilities, are typically required to file the Financial and Statistical Report in accordance with state and federal regulations.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the report, facilities must gather accurate financial and operational data, complete each section of the report as per the provided guidelines, ensure compliance with reporting deadlines, and submit the report to the appropriate regulatory agency.
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 insights into the financial health and operational efficiency of long-term care facilities, to ensure compliance with funding and regulatory requirements, and to facilitate effective oversight by regulatory agencies.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Facilities must report a variety of information including total revenue, expenses, occupancy rates, the number of residents, staffing levels, and any other financial metrics required by regulatory authorities.
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