If your parameters are stable then yes, it should heal itself. When the flesh starts to peel off then it's a sign of parameters if you have nothing in the tank picking at it. LPS corals are very sensitive to parameter swings and alkalinity is very important for long term health. In my opinion your parameters should read magnesium 1200-1350, calcium 430-450, alkalinity 9. The only way you can keep thone numbers consistent is with the magnesium. Think of it as an equilibrium for calcium and alkalinity. The biggest thing here cody is stability. Don't start dosing to bring the numbers up rapidly, make changes slowly. Once the numbers are where you want them I'd advise you to test through out the week, morning and night to see what your tank actually consumes so you can figure out how much to dose so your parameters stay stable. In our reef tank I have to dose 30ml of alkalinity daily so I break it up with a morning dose and nightly dose. The alkalinity also helps to stabilize the tanks PH which is important as well. I also do weekly 15 gallon water changes but it's not near enough to keep up with the corals demand. Take your time and you'll get the numbers good and steady.