A single-RBC photoacoustic flowoxigraphy (FOG) device is described that delivers laser pulses of two different wavelengths separated by a pulse separation period of about 20 μs. This separation period is sufficiently brief to enable pulses of two different wavelengths to illuminate the same single moving RBC. The acoustic signals elicited by the single RBC in response to the laser pulses of two different wavelengths may be analyzed using pulse oximetry methods similar to those described herein above to simultaneously determine a variety of functional parameters.