It's for treatment of knees with OA, not for hips.
From Synvisc web site:
"SYNVISC is a treatment option called a viscosupplement. It replaces damaged synovial fluid with a substance similar to that found in healthy joints of 18- to 27-year-olds.
In knees with osteoarthritis, normal joint fluid, called synovial fluid, becomes thinner, losing its ability to lubricate and cushion the knee joint. Without this cushioning, cartilage in the knee joint may wear down over time, causing pain and stiffness. SYNVISC can improve the cushioning and lubricating effects of synovial fluid that has been damaged by OA."
Lasts about 6 months after course of treatment.