A method for determining fatty acid level in case of acute or chronic medical conditions, and diagnosing medical conditions associated with increased fatty acid level in a biological sample containing albumin is provided. The method includes incubation of patient's sample and high surface area carbon-based electrode together in a holder. Due to attractive hydrophobic interaction between the albumin's surface fatty acids and the carbon-based material, the electrode self-extracts fatty acids from the albumin. The method eventually includes adsorption/accumulation with subsequent monolayer formation of extracted fatty acids over the carbon-based electrode. Accumulation of the fatty acid monolayer changes already existing electrode-electrolyte (sample) interfacial construct, which in turn changes also the interfacial states, such as electrical double layer capacitance. The appropriate electrical/electrochemical measurement reflects the magnitude of extracted fatty acids from the albumin that is indicative of acute or chronic medical conditions.