We’ve began using this approach on our internal packages. To make it even better, you can tag releases on Github and then specify that tag as the package version in place of dev-master, since being tied to master can be dangerous for production sites. Our basic workflow for this is:
git add -A
git commit -m 'add some cool new feature'
git tag 1.1.0 # Or whatever your new version is
git push origin master --tags
Now, you can require your package by that new version number.