The poor operating conditions of fluid lubrication equipment during the start-up process are due to the resistance of the high-viscosity lubricating liquid. Moreover, the excessive reduction in fluid viscosity due to the elevated temperature resulting from power consumption during prolonged operation is not conducive to the generation of dynamic pressure. In this study, we examine the effect of energy accumulation and boundary slip on the laminar flow of a liquid between a pair of rotating plates. The experiments are conducted using a rotary rheometer, with polymethyl methacrylate (PMMA) as the thermal insulation material and polytetrafluoroethylene (PTFE) as the slip drag reduction material, and a three-dimensional simulation model is established. This model is derived by combining the energy equation including the slip length and the heat conduction equation. Thus, the temperature changes over time are predicted by this model, and the model accuracy is verified by experiments. The results reveal the following points: 1) boundary slips function as a drag reduction mechanism for short-time continuous operation; 2) under prolonged operation, the slip reduces the extent of the oil viscosity decrease and clear control of the elevated temperature by the boundary slip is observed.