Yes. Our daughter had it. The day after her birth when the ped. came around to examine her he heard the tell tale click in one of her hips. We took her (two days after we got home from the hospital) to an orthopedic specialist and they did xrays and gave us a foam brace to put on her. She was supposed to wear it 24 hrs a day. The reality of the brace was not bad, but the simple fact that she was a newborn that I wanted to hold and cuddle was awful, b/c the brace made her legs splayed like a frog and made it difficult to snuggle/cuddle her. After about a week or two, she started getting diaper rashes also, b/c it really held in the heat/moisture (we live in the deep south and she was born in June).
We took her back as requested every 2 -4 weeks for awhile... within 6 months, the xrays showed that the ball/socket of her hip had deepened to the point that you couldn't tell the "dysplasia" hip from any other perfectly formed hip... So we stopped taking her in for regular xrays and didn't need to continue "treating" with braces. Of course, at about 4 weeks, we had gotten so aggravated with the brace, and the diaper rashes, etc... that we had gotten to where we were rarely using it anyway. (Bad parents!!!). But because we were so aggressive right at the very beginning, it allowed her hip to deepen appropriately and that was all that was needed. She was carried breech, until 2 weeks before she was born (did external version on her and she successfully turned), and carrying or being born breech is a contributing factor in hip dysplasia, so I am told.
She will be 10 this summer and you'd never know she had a problem.
I wanted to add: the earlier you treat, the faster and easier the results. The bones grow SO FAST when they are babies... and the bigger they get, the more the growth slows down... so the longer any treatment will probably take. Be aggressive with getting her started with a treatment.