1. A system for patient-specific image processing comprising: a data storage device storing instructions for patient-specific image processing; and a processor configured to execute the instructions to perform a method comprising: receiving or generating data associated with non-invasively produced time-varying medical images of a vasculature having at least one change in blood flow or blood vessel morphology during a cardiac cycle of a patient; receiving measurements of an observed value of the blood vessel morphology and an observed value of blood flow using the received or generated data; generating a three-dimensional dynamic model of the vasculature for simulation processing based on the non-invasively received time-varying medical images; identifying one or more boundary conditions of the three-dimensional dynamic model for adjustment; iteratively predicting at least one of a value of a blood vessel morphology and a value of blood flow using the generated three-dimensional dynamic model, and iteratively adjusting the identified boundary conditions, until the predicted values are in conformity with at least one of the observed value of the blood vessel morphology and the observed value of the blood flow; and simulating the three-dimensional dynamic model using the adjusted boundary conditions to non-invasively calculate a blood flow-characteristic.