In Western medicine, the pulse is only a minor diagnostic tool, it is, however, very important in TCM. Pulse diagnosis gives information on
The state of balance of the body as a whole, i.e. the state of the Qi, Blood, Yin and Yang, and even the constitution. 
The state of individual Organs (esp. Yin Organs). 
TCM practitioners feel the pulse and note the rate. They discern width or amplitude, length, how close it is to the surface, how deep and close to the bone, the strength, and other qualities.