No. We don't. Leastways, not in the narrative of the game.
Heck, I'm not really a regular, but just on this site over the years I've seen approximately 70 or 80 threads expressly on the subject of what hit points mean, with everything from polite disagreement to the declaration of holy war against the infidels resulting from the conversation.
"Hit points" implies and the exact definition of an in-game "hit" are so nebulous it's amazing. I'm a "only the last hit and maybe crits get described as an actual wound" kind of guy, but I've seen DMs describe the loss of 1/10 of your total hit points from a normal attack as a sucking chest wound. Of course, how else do you describe a "hit" with a giant axe that causes you to lose "hit points" if you're being literal?