Phased array transducers are multi-element transducers, where different elements are activated with different time delays. The advantage of these transducers is that no mechanical movement of the transducer is needed to scan an object. Focusing and beam steering is obtained simply by adjusting the time delay. In this paper the DPSM (distributed point source method) is used to model the ultrasonic field generated by a phased array transducer and to study the interaction effect when two phased array transducers are placed in a homogeneous fluid. Earlier investigations modeled the acoustic field for conventional transducers where all transducer points are excited simultaneously. In this research, combining the concepts of delayed firing and the DPSM, the phased array transducers are modeled semi-analytically. In addition to the single transducer modeling the ultrasonic fields from two phased array transducers placed face to face in a fluid medium is also modeled to study the interaction effect. The importance of considering the interaction effect in multiple transducer modeling is discussed, pointing out that neighboring transducers not only act as ultrasonic wave generators but also as scatterers.