It doesn't work like that. I assume you are talking about NiMH, which come hot off the charger at around 1.42v, and usually settle to around 1.38 after a day or two. A good NiMH will hold above 1.2v for almost it's entire usage, dropping below only when the battery is mostly depleted.
NiMH differ greatly from alkaline in this respect, as alkaline continually lower in voltage as they are used up. That's the good thing about NiMH though, as they maintain a higher voltage through most of their live, especially under load. This is what makes them ideal over alkalines in high drain electronics (digital cameras, flashlights, etc.)