A medical device system and associated method monitor tissue hemoglobin concentration. Light attenuation is measured in a volume of tissue in a patient. A value of a tissue scattering coefficient corresponding to the tissue volume in the patient is established in response to the attenuation measurement. A second derivative of the light attenuation measurement is determined. An artifact correction term is computed in response to the established tissue scattering coefficient, and a tissue hemoglobin concentration is computed using the artifact correction term and the second derivative.
