Plasma concentration of a compound of interest is measured in two or ideally 4 or more blood samples taken from a patient over a period of time following bolus injection. The measured values are input into a computer processor programmed to execute a computer program comprising an algorithm that uses the gamma variate (GV) function to model drug plasma concentration, then uses Tikhonov regularization to perform the fit, selecting a regularization constant so that the relative error in the plasma clearance is minimized. One or more output values representative of renal function are generated.