Abstract: A system and method for image analysis of oximetry burden as a measure of cardiovascular risk are disclosed. A particular embodiment includes: using a data processor to receive a digitized representation of an oximetry graph of a patient; detecting a level of arterial oxygen saturation (SpO2) in the blood of the patient over a given time period based on the digitized representation of the oximetry graph of the patient; and determining a Hypoxemia Burden Index (HBI) for the patient based on a percentage of time over a unit of measure parameter that the levels of SpO2 in the blood of the patient are below a hypoxemia burden threshold.