An 8-week-old girl is brought to an outpatient clinic by her mother who is concerned about an apparent asymmetry in her daughter's thigh folds. The patient was born at 40 weeks gestation, a first-born to a 28-year-old G1P1 mother, via normal vaginal delivery after a successful external cephalic version for a breech presentation at 36 weeks. There is no family history of hip problems. On physical examination, an audible clunk and palpable displacement are noted with the Ortolani maneuver on the right hip. There is also noticeably limited abduction of the right hip compared to the left, and the right knee appears lower than the left when the hips and knees are flexed (positive Galeazzi sign). A hip ultrasound is performed, which confirms a dislocated right hip with acetabular immaturity. The complete blood count (CBC) shows a hemoglobin of 135 g/L, white blood cell count of 9.2 x 10^9/L, and platelet count of 350 x 10^9/L. What is the most appropriate initial management strategy and a crucial long-term follow-up assessment for this patient?