The assessment of blood flow in the gastrointestinal mucosa might be an important factor for the diagnosis and treatment of several diseases such as ulcers, gastritis, colitis or early cancer. The quantity of blood flow is roughly estimated by computing the spatial hemoglobin distribution in the mucosa. The presented method enables a practical realization by calculating approximately the hemoglobin concentration based on a spectrophotometric analysis of endoscopic true-color images, which are recorded during routine examinations. A system model based on the reflectance spectroscopic law of Kubelka-Munk is derived which enables an estimation of the hemoglobin concentration by means of the color values of the images. Additionally, a transformation of the color values is developed in order to improve the luminance independence. Applying this transformation and estimating the hemoglobin concentration for each pixel of interest, the hemoglobin distribution can be computed. The obtained results are mostly independent of luminance. An initial validation of the presented method is performed by a quantitative estimation of the reproducibility.