I live in the geelong area and have decided to make the commute to go to Monash Caulfield for Commerce purely because of its better reputation than Deakin. It means an extra 2 hours a day commuting than if I went to Deakin but I'm hoping it'll be worth it.
Deakin doesn't seem to have that great of a reputation compared to Melb uni and Monash which I personally believe will affect my chances of employability in the future, especially getting into those competitive larger firms.
I'm not sure about Biomedicine but I have heard the standard for teaching is quite crap for Deakin Geelong in Commerce.
For example: teachers taking 'smokos' during lectures or stopping 2 hour lectures after only 30 minutes and saying they're finished and to go home.
Also the lower enter scores means it takes twice as long to teach simple basics. My friend said he was extremely frustrated because it took a whole hour for Deakin to teach simualtenous equations to the Commerce students with only two variables and some of them still didn't get it!
I'm not sure about the reputation for biomedicine at Deakin though and perhaps ask a few students their personal opinion of the course if you ever get the chance!
Anyway good luck