United opened up a five-point cushion on rivals Liverpool by claiming a 2-1 win at Anfield last Sunday.
And ex-United goalkeeper Bosnich, who won the Premier League title with the club in 2000, is confident they will be back amongst Europe's elite next season after a slow start to life under Louis van Gaal.
"I'm a Van Gaal fan and he has wonderful pedigree - you could see it was always going to take time after so long with [Alex] Ferguson. But you can see slowly but surely things are coming to fruition," Bosnich told Perform.
"He has obviously tried a lot of things but his recent two line-ups he kept things the same in terms of the way they played and we saw the results.
"They have a wonderful squad but sometimes a wonderful squad doesn't necessarily guarantee success. You have to make sure to get the balance right.
"[The] International break probably comes at the right time for them because they are doing so well but it was great to see them dominate at Anfield of all places."
With eight matches remaining this season - including clashes with the three sides above them in the table, Chelsea, Manchester City and Arsenal - a top-four finish is still far from certain for United.
But former Australia keeper Bosnich does not feel Van Gaal should lose his job should they fail to qualify for the Champions League.
"I don't think that type of instability would be a good thing. Obviously what happened with David Moyes last season was very sad," the 43-year-old added.
"I believe if he [Moyes] was given time, he would have been fine but I think it got to the point where fans couldn't see light at the end of the tunnel.
"But if you start doing that every season, that leads to instability and that will take another manager another year to get back."
