An apparatus for displaying a moving region of interest located within a body includes a positioning system to determine a position and orientation (P&O) of a medical device as well as to track, using an internal position reference sensor, the motion of the region of interest over time. A compensation function block generates a motion compensation function based on the motion of the region of interest, which is configured to compensate for the motion of the region of interest between a first time, for example a time at which an image was acquired and a second time, for example a time at which a P&O of the device was measured. The measured P&O is corrected using the compensation function. A representation of the medical device is superimposed on the image in accordance with the corrected P&O.