An implantable medical lead includes a device, such as a physiological sensor, that is coupled to one or more stimulation/sensing sensing conductors within the lead. When the implantable medical lead is coupled to an implantable medical device, the device carried by the lead both receives power from, and communicates with the implantable medical device via the one or more stimulation/sensing sensing conductors. Each of the one or more stimulation/sensing sensing conductors is also coupled to an electrode that is exposed to body tissue.