When the 27-year-old tore his hamstring off the bone during a training session in September he was expected to be out for up to five months.
However, his rehabilitation has progressed so well that Healy has been earmarked for a return to the fold when Leinster resume European action against Castres on January 17.
Leinster are on a run of just one defeat from their last seven GUINNESS PRO12 fixtures and though Healy's presence would certainly boost their front row, Caputo does not wish to unleash the Ireland international too soon and risk further injury with the club in the midst of a purple patch.
"There's a balancing act and it's about managing the risk," Caputo told the Irish Times.
"He's got a couple of boxes to tick as to when he's let off the leash. The biggest is the strength imbalance in his legs - his good leg and bad leg.
"He's making real progress. I think he's got his next benchmark examination next Monday and if he comes through that he'll be in the frame for selection."
Follow us on Facebook, join the conversation on Twitter, sign up to our YouTube channel for extensive match highlights and sign up for our newsletter for regular updates on the GUINNESS PRO12
Guinness PRO12
Suite 208, Alexandra House,
The Sweepstakes
Ballsbridge, Dublin 4, Ireland