An intravascular device for measuring blood pressure and flow is disclosed, which includes an elongate shaft (301) having a pressure transducer, and a flow transducer connected to its distal end. The pressure transducer may be a ferrofluid-type pressure transducer, and the flow transducer may be an anemometer-type flow transducer. Measurement circuitry is also disclosed which provides a means for simultaneous measurement of both blood pressure and blood flow parameters. A sensor (302) shield may be employed to isolate radial blood flow which is indicative of turbulent blood flow. An alternative blood flow measurement device is also disclosed which utilizes a thin metal film (403) anemometer to measure flow in a vascular lumen.