Current models for calculating nonlinear power dissipation during the oscillations of acoustically excited bubbles generate non-physical values for the radiation damping (D rd) term for some frequency and pressure regions that include near resonance oscillations. Moreover, the ratio of the dissipated powers significantly deviate from the values that are calculated by the linear model at low amplitude oscillations (acoustic excitation pressure of P A= 1 kPa and expansion ratio of<≊ 1.01). In high amplitude oscillation regimes (P a⩾ 20 kPa), the dissipated power due to D rd deviates largely from the dissipated power as calculated by the widely accepted approach that uses the scattered power by the bubbles. We provide critical corrections to the present models. The validity of the results was examined in regimes of low amplitude oscillations and high amplitude oscillations. In the low amplitude regime, the ratio of the dissipated powers as calculated by the current and proposed model were compared with the linear model predictions. At higher amplitude oscillations, the dissipated power by radiation loss as calculated by the current and the proposed models were compared with the dissipated power calculated using the scattered power by the bubbles. We show that non-physical values are absent in the proposed model. Moreover, predictions of the proposed approach are identical to the predictions of the linear model and the dissipated power estimated using the scattered pressure by the bubble. We show that damping due to thermal effects, liquid viscosity and radiation heavily depend on the excitation pressure and that the linear model estimations are not valid even at pressures as low as 20 kPa.