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Spencer Marshall

FSA, MAAA
Consulting Actuary
Seattle, WA, US
1 206 613 8255

Spencer Marshall is a consulting actuary specializing in healthcare in Milliman's Seattle office. He joined the firm in 2021.

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Experience

Spencer's primary areas of expertise as a healthcare consultant include:

  • Provider reimbursement benchmarking
  • Claims and membership analytics
  • Claims repricing
  • Data warehousing and visualization
  • Actuarial reserving for standard and unique populations
  • Automation and tool development

Spencer has experience working with health plans, hospital systems, specialty provider organizations, integrated delivery systems, and health startups. He is an expert at developing and implementing end-to-end solutions for repricing, forecasting, reserving, and reporting.

Publications

Read their latest work

Video

Uncovering competitive market intelligence for revenue, savings and more

30 June 2026 - by Spencer Marshall, Bill Alto
Our Milliman experts provide strategies for identifying and capturing opportunities in your claims data and provide info on how the Market Average Reimbursement Benchmarks (MARB) empowers you to benchmark your rates against the market, spot opportunities, and negotiate better reimbursement.
Article

Pharmaceutical cost impact effectiveness study of Kaiser Foundation Health Plan of Washington and Kaiser Foundation Health Plan of Washington Options, Inc.

12 March 2026 - by Austin Barrington, Spencer Marshall, Patrick Baiza, Sam Yih
In Washington state, commercial group members in Kaiser HMO and PPO plans experience statistically significant Rx cost savings, our study shows.
Article

Commercial reimbursement benchmarking 2025

24 July 2025 - by Spencer Marshall, Danjie Zhou, Charlie Mills
We present the latest data on reimbursement as a percentage of Medicare fee-for-service rates, a key benchmark for providers.
Article

Cardiac ablations in ambulatory surgical centers: Estimated costs, utilization, and projected savings

16 May 2025 - by Spencer Marshall, Austin Barrington, Sam Yih, Samuel Kwao
If the Centers for Medicare and Medicaid Services were to approve cardiac ablations for ambulatory surgery centers, we estimate a savings of $181 million in 2026.
Article

Payer and provider negotiations: Price transparency data transforms negotiations with fresh insights

02 January 2025 - by Melonie O'Connell, Spencer Marshall
As price transparency data transforms payer and provider negotiations, we examine how Milliman Transparent can help stakeholders develop targets and strategy.
Article

Payer and provider negotiations: Price transparency data transforms negotiations with fresh insights

02 January 2025 - by Melonie O'Connell, Spencer Marshall
As price transparency data transforms payer and provider negotiations, we examine how Milliman Transparent can help stakeholders develop targets and strategy.
Article

Analysis of Together Senior Health’s RADAR algorithm to predict risk of undiagnosed dementia using claims data

11 November 2024 - by Spencer Marshall, Brian Hartman, Christopher Kunkel, June Chu
We share five key findings from our evaluation of models for predicting an individual’s risk undiagnosed dementia.
Article

2025 Medicare IPPS and OPPS trend summary

01 November 2024 - by Spencer Marshall, Danjie Zhou, Charlie Mills
We review the key pricing factors for the latest guidance issued by CMS for Medicare inpatient and outpatient prospective payment systems, for fiscal year 2025.
Article

Price transparency opportunities for employers

27 August 2024 - by Erica Reijula, Spencer Marshall, Mike Gaal, David C. Lewis
Milliman Transparent can support self-funded employers with analytics based on price transparency data to enhance their benefit offerings and fulfill their obligations as fiduciaries.
Article

Commercial reimbursement benchmarking

19 June 2024 - by Spencer Marshall, Danjie Zhou, Casey Anderson, Charlie Mills
We estimate the national commercial reimbursement payment rates increasing in 2024 to 190% of Medicare fee-for-service rates, up from 188% last year.