For the proper interpretation of ultrasonic measurement results from a side-drilled hole (SDH) using a rectangular transducer, it is very helpful to have a complete ultrasonic measurement model. A highly efficient ultrasonic beam model of a rectangular transducer and an accurate scattering model of a SDH are currently available. However, to develop such a complete measurement model, a reference model for the system efficiency factor is also needed. In this study a reference model suitable for a rectangular transducer is given and combined with existing models to develop a complete ultrasonic measurement model that can the predict ultrasonic signals from a SDH. Based on this model, we have calculated the ultrasonic signals from a SDH at different transducer orientations and compared the model-based predictions with experiments.