A nurse is updating the Minimum Data Set (MDS) forms for the residents of a long-term care facility. A nursing colleague asks about the significance of MDS documentation. Which of the following statements should the nurse make?

"The MDS forms provide documentation of each resident's assessment, including their cognitive and physical status."

"The MDS forms are completed by the provider each month."

"The MDS forms are provided to the facility with analysis of each resident's prescribed medications."

"The MDS forms are faxed to health care providers at the end of each quarter."