Should one catheterize the pulmonary artery (PA) for cardiac surgery before or after induction of anesthesia? Issues of central importance to this question include (1) the patient's preexisting hemodynamic abnormalities, (2) cardiovascular effects of anesthetic induction drugs, and (3) hemodynamic stress caused by laryngoscopy, endotracheal intubation, and PA catheter insertion. Some clinicians use the PA catheter immediately before anesthetic induction to detect and correct acute abnormalities in preload and ventricular function. This approach has been described as being partially responsible for decreased morbidity and mortality in patients with cardiovascular disease. Hemodynamic instability during induction has been reported with many of the common anesthetic induction agents, especially in patients with poor ventricular function. Since blood pressure is the product of cardiac output and systemic vascular resistance, accurate interpretation and treatment of hypotension are possible only when these variables are provided by vigorous use of the PA catheter. Early detection of myocardial ischemia is possible with examination of acute changes in the pulmonary capillary wedge pressure tracing. However, the lack of such information can restrict even the best anesthetist. Insertion of the PA catheter in the awake patient can be accomplished effectively and with minimal risk, so long as good patient rapport, adequate premedication, and continuation of antianginal medication until the time of surgery are assured. Preinduction placement of the PA catheter provides valuable, objective information for the cardiac anesthesiologist without incurring significant risk to the patient.