A system and method of both tracking a medical device and generating an image in real time from the same set of radial data. A multi-mode medical device system having tracking, imaging, and visualizing capabilities is coupled to an MR scanner and multiple-echo VIPR acquisition sequence is applied to simultaneously provide conventional real-time imaging of the target region using an external coil, 3D tip-tracking information, and a localized higher-quality image showing the region surrounding the medical device using an internal multi-mode coil.
