Systems and methods for monitoring intravascular pressure of a patient. The system includes a pressure sensor and catheter assembly having a pressure sensor portion and a transdermal catheter portion. The transdermal catheter portion has a fluid filled lumen and a distal barrier to maintain patency. A transmitter unit may be connected to the pressure sensor portion via a lead. The transmitter unit transmits pressure data to a remote receiver unit that may communicate (directly or indirectly) with a cable management device, a data acquisition device, a monitoring instrument, a computer, a modem, a telecommunication line, a network, etc. In addition, the system may include means to correct for pressure variations due to any difference in elevation between the sensor assembly and the heart.