A system includes an implantable medical device that includes a trans-thoracic impedance measurement circuit providing a trans-thoracic impedance signal of a subject. A controller is coupled to the trans-thoracic impedance circuit. The controller extracts a respiration signal from the trans-thoracic impedance signal, measures a breathing volume of the subject using the amplitude of the respiration signal and a breathing volume calibration factor, computes an adjusted breathing volume calibration factor using a reference baseline value of the trans-thoracic impedance and a measured baseline value of the trans-thoracic impedance, and computes a calibrated breathing volume using the adjusted breathing volume calibration factor.