Kosuke Iwasaki

FIAJ, MAAA, MBA

Principal

Tokyo, JP

Kosuke Iwasaki joined Milliman’s Tokyo office in 1999 and moved to New York in 2000. As a consulting actuary in healthcare and life insurance, he has contributed to or managed projects with life/health insurance companies, pharmaceutical companies, medical device companies, disease management companies, managed care organizations, and research institutes.

After 13 years in New York, he returned to Milliman’s Tokyo office in July of 2013 to establish the firm’s healthcare and data analytics practice in Japan.

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Experience

Health technology assessment (HTA) including cost-effectiveness, cost-utilization, and cost-benefit analysis for pharmaceutical companies and medical device companies
Economic value of drugs, including antihypertensive and anti-hyperlipidemic agents, diabetes drugs, hepatitis C drugs, antidepressants, anticancer agents, anticoagulation drugs, and drugs for COPD, hemophilia, and amyotrophic lateral sclerosis
Economic value of bariatric surgery
Economic value of disease management programs and screening
Analysis on adverse drug events for hospitals
Value-based design of health insurance, including the cost-sharing structure of diabetes drugs and chemotherapy for cancer patients
Development of a predictive model for a disease management company in Japan
Development of a predictive model for long-term care cost
Development of budget impact models (BIMs) for drugs for diabetes and hepatitis C patients
Development of benchmarks on outcomes for hospitals
Stochastic modeling, including:

Generalized linear model (GLM)
Survival model
Hierarchal Bayesian model
Bayesian network model

Development of healthcare reform models for accountable care organizations (ACOs)
Development of health insurance products, disability income products, long-term care products, and critical illness products for life and health insurance companies
Pricing and profit testing of insurance policies
Due diligence in M&A of life/health insurance companies

He is a member of the Institute of Actuaries of Japan’s Health Insurance Committee.

Professional Designations

Fellow, Institute of Actuaries of Japan
Member, American Academy of Actuaries

Education

BS, Mathematics, Tokyo University
MBA, Columbia University

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Publications

Read their latest work

Article

The economic burden of chronic diseases: A CGE model approach

12 December 2025 - by Hervé Andrès, Alexandre Boumezoued, Marie Ganon, Justine Gautier, Kosuke Iwasaki

In a study of Alzheimer’s and depression in Japan, we show how chronic illnesses reduce well-being and impose economic burdens on the nation.

Article

Analysis of the long term care burden related to bone fractures in Japan –An analysis based on Japanese governmental statistics

25 February 2019 - by Kosuke Iwasaki

We estimated the long-term care expenditures/expense due to bone fractures in Japan using publicly available Japanese government statistical data. The expenses increased over time and were estimated to be about \2 trillion in 2016. Families bore the largest part of the cost burden for long-term care related to fractures.

Article

Prevalence, treatments and medical cost of multiple sclerosis in Japan based on analysis of a health insurance claims database

26 September 2017 - by Kosuke Iwasaki

This article analyzes health insurance claims data to determine the current treatment status and medical cost of multiple sclerosis in Japan.

Article

Analysis of second- and third-line antihypertensive treatments after initial therapy with an angiotensin II receptor blocker using real-world Japanese data

01 August 2016 - by Kosuke Iwasaki, Yujiro Otsuka

This study examines combination therapies administered following initial therapy with an angiotensin II receptor blocker in hyperintensive Japanese patients.

Article

Current treatment status and medical cost for multiple sclerosis based on analysis of a Japanese claims database

04 April 2016 - by Kosuke Iwasaki, Yujiro Otsuka

This study provides up-to-date information on the demographics, medical treatment and cost status of multiple sclerosis treatment in Japan in almost real-time by using a claims database.

Article

An actuarial study of hemophilia: Implications for commercial and Medicaid managed care plans

05 March 2014 - by Kosuke Iwasaki, Bruce S. Pyenson

This paper discusses the financial risks associated with hemophilia and outlines the issues for regulators, insurers, and provider organizations financially managing the care for this and other rare and expensive medical conditions.

Article

Healthcare reform and hepatitis C: A convergence of risk and opportunity

19 December 2013 - by Tyler Engel, Kate Fitch, Kosuke Iwasaki, Bruce S. Pyenson

How will newly diagnosed or previously uninsured individuals with hepatitis C affect the U.S. healthcare system?

Article

Comparing episode of cancer care costs in different settings: An actuarial analysis of patients receiving chemotherapy

09 October 2013 - by Kate Fitch, Kosuke Iwasaki, Bruce S. Pyenson

Chemotherapy treatment in hospital outpatient settings vs. in physicians offices in on the rise and increasing costs.

Article

The incidence rate and economic burden of community-acquired pneumonia in a working-age population

01 September 2013 - by Jonah Broulette, Kosuke Iwasaki, Bruce S. Pyenson

What is the economic impact of community-acquired pneumonia (CAP) in the employed population?

Article

Major depressive disorder: An actuarial commercial claim data analysis

31 July 2013 - by Kate Fitch, Kosuke Iwasaki

Evaluating antidepressant formulary access and benefit design should help support effective antidepressant treatments in patients with major depressive disorder.

Kosuke Iwasaki

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Experience

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Read their latest work

The economic burden of chronic diseases: A CGE model approach

Analysis of the long term care burden related to bone fractures in Japan –An analysis based on Japanese governmental statistics

Prevalence, treatments and medical cost of multiple sclerosis in Japan based on analysis of a health insurance claims database

Analysis of second- and third-line antihypertensive treatments after initial therapy with an angiotensin II receptor blocker using real-world Japanese data

Current treatment status and medical cost for multiple sclerosis based on analysis of a Japanese claims database

An actuarial study of hemophilia: Implications for commercial and Medicaid managed care plans

Healthcare reform and hepatitis C: A convergence of risk and opportunity

Comparing episode of cancer care costs in different settings: An actuarial analysis of patients receiving chemotherapy

The incidence rate and economic burden of community-acquired pneumonia in a working-age population

Major depressive disorder: An actuarial commercial claim data analysis

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Kosuke Iwasaki

Experience

Read their latest work

The economic burden of chronic diseases: A CGE model approach

Analysis of the long term care burden related to bone fractures in Japan –An analysis based on Japanese governmental statistics

Prevalence, treatments and medical cost of multiple sclerosis in Japan based on analysis of a health insurance claims database

Analysis of second- and third-line antihypertensive treatments after initial therapy with an angiotensin II receptor blocker using real-world Japanese data

Current treatment status and medical cost for multiple sclerosis based on analysis of a Japanese claims database

An actuarial study of hemophilia: Implications for commercial and Medicaid managed care plans

Healthcare reform and hepatitis C: A convergence of risk and opportunity

Comparing episode of cancer care costs in different settings: An actuarial analysis of patients receiving chemotherapy

The incidence rate and economic burden of community-acquired pneumonia in a working-age population

Major depressive disorder: An actuarial commercial claim data analysis

CHOOSE A LOCATION AND LANGUAGE