
Deana Bell
Deana Bell is a principal and consulting actuary in Milliman’s Seattle Health Practice, with more than 20 years of experience. She forecasts, prices, evaluates, and studies the costs and outcomes of people’s care across the healthcare system. Her work centers on detailed analysis of claims and clinical data to answer specific business questions for health plans, providers, and healthcare technology companies.
Experience
Health tech and digital health
Deana leads independent economic validation and ROI modeling engagements for healthcare technology and digital health companies. These studies measure cost savings, changes in utilization, and the performance of value-based care programs, with work spanning care delivery innovation, specialty pharmacy, and high-cost population management. She is a member of Milliman’s Effectiveness Studies Oversight Group (ESOG), which reviews every effectiveness study the firm produces for methodological rigor and adherence to actuarial standards of practice. She has a particular interest in how AI and precision medicine affect healthcare costs and outcomes.
Health plans
Deana works with commercial insurers, Medicare Advantage plans, and Medicaid plans on bid development, pricing models, rating strategies, and risk adjustment. Her financial reporting work includes year-end statements, reserving, and actuarial opinions. She also advises plans on pharmacy contracting, including formulary design and rebates.
Providers and employers
For provider groups and employer groups, Deana performs retrospective cost and utilization reviews, benchmarking, and financial evaluations of care programs and contracting arrangements, including value-based care.
Federal and life sciences
Deana also consults for the Veterans Health Administration and for life sciences companies.
- 2026 Milliman Medical Index. Milliman Insight publication. May 2026.
- Assessing Health Care Program Investments: Key Methods to Measure Effectiveness. AHIP Conference. June 2025.
- AI and Health Transparency Data Bending Employer-Sponsored Healthcare Costs. Digital Health Council AI Conference. October 2024.
- Unlocking Success in Medicare Advantage, Insights from Actuaries. HICE Annual Conference. December 2023.
- Payer Strategies for GLP-1 Medications. Health Tech Nerds Lunch & Learn. October 2023.
- Fellow, Society of Actuaries
- Member, American Academy of Actuaries
- BA (summa cum laude), Mathematics, Lewis & Clark College