Disclosed herein is the correlation of chemical properties of oils with the physical properties of a resulting cured oil composition. Also disclosed are biocompatible materials and coatings for medical devices prepared using enriched oils and methods for enhancing or modifying the physical and chemical characteristics of cured oils by enriching such oils with fatty acid alkyl esters. Methods of tailoring the properties of biocompatible materials and coatings to deliver one or more therapeutic agents are also provided.