A system and method are provided for determining a pressure associated with a lumen of a body. A wireless sensor is positioned in the lumen of the body. The sensor comprises an LC resonant circuit having a resonant frequency configured to vary in response to changes in pressure in the lumen. One or more sensor calibration parameters are stored at an external base unit. The external based unit generates and transmits an energizing signal. A ring down response is received from the wireless sensor. The system and method determine the resonant frequency of the LC resonant circuit from the ring down response and calculate the pressure in the lumen from the resonant frequency of the LC resonant circuit utilizing the one or more sensor calibration parameters associated with the LC resonant circuit.