As a result of the medium coupling, propagation characteristics of ultrasonic waves guided by a multi-phase medium can be different from those in a homogeneous system. This phenomenon becomes prominent for a medium consisting of phases with considerably distinct material and physical properties (e.g., submerged structures or human bones covered with soft tissues). In this study, the coupling effect arising from both fluid and soft tissues on wave propagation in engineering structures and human bone phantoms, respectively, was explored and calibrated quantitatively, with a purpose of enhancing the precision of ultrasonic-wave-based non-destructive evaluation (NDE) and clinical quantitative ultrasound (QUS). Calibration results were used to rectify conventional NDE during evaluation of corrosion in a submerged aluminium plate, and QUS during prediction of simulated healing status of a mimicked bone fracture. The results demonstrated that with the coupling effect being appropriately taken into account, the precision of NDE and QUS could be improved.