You could do kotegaeshi to the outside but the emphasis is on the uke's center not his hand.
I understand returning the power to uke and dropping and we do that pretty much standard. But having understood the principle of that, you can then apply dynamic kotegaeshi but without cranking in the pain. Absolutely needless and uke is powerless but to continue in that direction of the throw.
The fall whilst it looks like a break fall is altogether different. It isn't the whoomph bam you are over and down, more like oh crap what's going on I have no breaks now I'm airborn, over and sliding across the mat, wishing it didn't have that much friction...