The accurate estimation of the remaining useful life (RUL) of various components and devices used in complex systems, e.g., airplanes remain to be addressed by scientists and engineers. Currently, there area wide range of innovative proposals put forward that intend on solving this problem. Integrated System Health Management (ISHM) has thus far seen some growth in this sector, as a result of the extensive progress shown in demonstrating feasible and viable techniques. The problems related to these techniques were that they often consumed time and were too expensive and resourceful to develop. In this paper we present a radically novel approach for building prognostic models that compensates and improves on the current prognostic models inconsistencies and problems. Broadly speaking, the new approach proposes a state of the art technique that utilizes the physics of a system rather than the physics of a component to develop its prognostic model. A positive aspect of this approach is that the prognostic model can be generalized such that a new system could be developed on the basis and principles of the prognostic model of another system. This paper will mainly explore single switch dc-to-dc converters which will be used as an experiment to exemplify the potential success that can be discovered from the development of a novel prognostic model that can efficiently estimate the remaining useful life of one system based on the prognostics of its dual system.