Noninvasive measurement of health parameters such as blood oxygen saturation and bilirubin concentration predicted via an appropriate light reflectance model based on the measured optical signals is of eminent interest in biomedical research. This is to replace the use of conventional invasive blood sampling approach. This study aims to investigate the feasibility of using Modified Lambert Beer model (MLB) in the prediction of one’s bilirubin concentration and blood oxygen saturation value, SO2. This quantification technique is based on a priori knowledge of extinction coefficients of bilirubin and hemoglobin derivatives in the wavelength range of 440 – 500 nm. The validity of the prediction was evaluated using light reflectance data from TracePro raytracing software for a single-layered skin model with varying bilirubin concentration. The results revealed some promising trends in the estimated bilirubin concentration with mean ± standard deviation (SD) error of 0.255 ± 0.025 g/l. Meanwhile, a remarkable low mean ± SD error of 9.11 ± 2.48 % was found for the predicted SO2 value. It was concluded that these errors are likely due to the insufficiency of the MLB at describing changes in the light attenuation with the underlying light absorption processes. In addition, this study also suggested the use of a linear regression model deduced from this work for an improved prediction of the required health parameter values.