In one embodiment, the present invention provides an implantable stimulation device that includes output current sources and/or sinks configured to provide an output current for a load (i.e., tissue). The output path of the output current source or sink comprises a transistor which operates in a linear mode instead of a saturation mode. Because operation in a linear mode results in smaller drain-to-source voltage drops, power consumption in the output current source or sink (and hence in the implantable stimulator) is reduced, reducing battery or other power source requirements. Operation in the linear mode is facilitated in useful embodiments by a load in an input path (into which a reference current is sent) and a load in the output path (which bears the output current). The loads can be active transistors or passive resistors. A feedback circuit (e.g., an operational amplifier) receives voltages that build up across these loads, and sends a control signal to the gate of the transistor to ensure its linear operation.