System and method for dynamically calibrating and measuring analyte concentration in diabetes management monitors

A diabetes management system comprising an optical analyte sensor and an insulin infusion device, wherein the optical analyte sensor comprises:

• a matrix for receiving a sample containing the analyte at an unknown concentration;
• a light emitter for emitting light at a stimulation frequency upon the sample;
• a light receiver for receiving a fluorescence signal at a first isosbestic frequency, and at a second frequency, and for measuring an intensity of the fluorescence signal at the first and second frequencies;
• a processor for determining a concentration of the analyte based on the respective intensities measured at the first and second frequencies;
• and
• wherein the analyte sensor further comprises a transceiver for transmitting a signal to the insulin infusion device.