If the surgery goes well, the fix is a physical one and no follow-up meds are required. However, you might still opt to give the dog a chondroitin/glucosamine supplement to mitigate any arthritic changes that might still occur after the surgery. Our springer was so much more active after getting her dysplastic hips totally replaced that 6 years later she was playing with our new puppy by chasing him around the backyard.
There are a number of different surgical routes that can be taken--the vet can tell you which would be most appropriate for your dog if it becomes necessary.
But I'd keep in mind two things--first, use an orthopedic surgeon with lots of experience with hip dysplasia and second, be prepared for a fairly long recovery period of restricted activity and regulated exercise. Following the surgeons post-op directions to the letter is critical to a successful outcome.
Good luck with your dog, mysherry!