The effect of diffusion is believed to cause underestimation of oxygen extraction fraction (OEF) in streamlined quantitative BOLD (qBOLD). We propose physically motivated modifications to the qBOLD model in order to account for this effect, and demonstrate, using Monte Carlo simulations, and analysis of healthy in vivo data, that simple scalar corrections to the inferred reversible relaxation rate $$$R_2'$$$, can substantially reduce the error in OEF and deoxygenated blood volume (DBV) estimation. These corrections have the potential to be improved further by taking other physiological and acquisition-related parameters into account.
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