The Bairns' shot-stopper fell awkwardly and landed on his knee in the stalemate against Airdrieonians and there were concerns that he could face a spell on the sidelines with a cruciate injury.
The 32-year-old was replaced by Robbie Mutch and missed Falkirk's 2-0 Challenge Cup defeat to Raith Rovers while waiting for results on the scan.
However, Ray McKinnon's men received a boost ahead of this weekend's clash against the Loons on Tuesday, with the news that Bell has no damage to his cruciate.
McKinnon told the Falkirk Herald: "It's great news. We thought it was a posterior cruciate ligament injury but we've got the scan results back and we're hoping he will be back in training on Thursday.
"He done a bit today so we're very pleased. He should be available for Saturday."
Another player who could be in contention is new striker David McMillan. The former St Johnstone forward has had back spams but McKinnon insisted it is nothing to worry about.
He said: "We're delighted to have him on board. We need all our strikers hungry and to be pushed and I think David will do that.
"David certainly brings a different goal threat for us.
"He scores a lot of goals with his head, he gets on the end of things, he's quick.
"If one of our strikers is not performing or just lacking a bit of confidence, we've got somebody to go and put the ball in the net for us.. He's got goals at Champions League level.
"He's had spasms in his back but it's nothing. We've just got to take a bit more precaution because he is training on astroturf.
"There's no point in making it worse.
"He'll train on Thursday and I'm hoping he will be available for Saturday, he might start on the bench and gradually bring him in."