A system and method for generating dynamic susceptibility contrast information from medical imaging data acquired using a magnetic resonance imaging (MRI) system and from a subject having received a dose of a contrast agent. A plurality of images are acquired of the subject. Using the images, an arrival time correction (ATC) is determined that includes a value for at least one of a time shift variable, a time stretch variable, and an amplitude scale variable. The ATC is applied to a model of dynamic susceptibility contrast that relates a measure of signal change over time with a correction term to dynamic susceptibility contrast information to create a corrected model of dynamic susceptibility contrast including the ATC. At least one contrast agent concentration curve is generated from the plurality of images using the corrected model.
