A mechanism for non-invasively monitoring blood characteristics of a subject is disclosed. To enable measurement of hemoglobin concentrations in a cost-effective way, a computational model is established that represents a relationship between a first variable indicative of total hemoglobin concentration and a set of variables that includes second variables indicative of light transmission through tissue and third variables indicative of concentration percentages of different hemoglobin species. In-vivo measurement signals are acquired from a subject and in-vivo values are determined for the second and third variables based on the in-vivo measurement signals. The first variable is then solved based on the in-vivo values of the second and third variables and the computational model.
