Techniques are provided for equipping sensing/pacing leads with physiological sensors without requiring additional conductors within the leads. In a bipolar lead example for use with a pacemaker, a sensor is connected between tip and ring conductors of the lead. The sensor is configured to be activated only in response to enhanced pacing pulse (EPPs) having magnitudes or durations greater than typical pacing pulses or in response to impedance detection pulses (IMPs). In a unipolar example, the sensor is connected to the tip conductor and includes an output terminal on the external housing of the lead for providing a return current path to the pacemaker. The sensor of the unipolar lead is likewise configured to respond only to EPPs or IMPs. In other examples, the sensors are configured to be fitted to the external housing of the lead and to derive power from the lead via electromagnetic induction. Still other examples include actuators rather than sensors.