The primary aim of this study is to establish the theoretical foundations for a solid-fluid biphasic mixture domain that can accommodate inertial effects and a viscous interstitial fluid, which can interface with a dynamic viscous fluid domain. Most mixture formulations consist of constituents that are either all intrinsically incompressible or compressible, thereby introducing inherent limitations. In particular, mixtures with intrinsically incompressible constituents can only model wave propagation in the porous solid matrix, whereas those with compressible constituents require internal variables, and related evolution equations, to distinguish the compressibility of the solid and fluid under hydrostatic pressure. In this study, we propose a hybrid framework for a biphasic mixture where the skeleton of the porous solid is intrinsically incompressible but the interstitial fluid is compressible. We define a state variable as a measure of the fluid volumetric strain. Within an isothermal framework, the Clausius-Duhem inequality shows that a function of state arises for the fluid pressure as a function of this strain measure. We derive jump conditions across hybrid biphasic interfaces, which are suitable for modeling hydrated biological tissues. We then illustrate this framework using confined compression and dilatational wave propagation analyses. The governing equations for this hybrid biphasic framework reduce to those of the classical biphasic theory whenever the bulk modulus of the fluid is set to infinity and inertia terms and viscous fluid effects are neglected. The availability of this novel framework facilitates the implementation of finite element solvers for fluid-structure interactions at interfaces between viscous fluids and porous-deformable biphasic domains, which can include fluid exchanges across those interfaces.