There is a procedure that a good, qualified PT will do that, apparently, fixes IT problems permanently. It involves a stretch and it hurts like hell for a short time. This is as described by an iron man competitor I knew who had considerable IT pain.

I've had IT band issues, but nothing that has kept me permanently off the bike. Stretching keeps the pain at bay, along with spinning in lower gears and avoiding load as in mashing up hills.

I suspect riders with serious IT problems turn their noses up at those with compact or triple cranks, or anything bigger than 23T on the rear cassette.