I've had pretty extensive experience dealing with IT band injuries. Most of what has already been posted is either right on target, or at least relevant. I won't bother to repeat stuff, but yes, it's an injury that can last a long time.
The one post I strongly disagree with recommended a cortisone injection. Do not do this. Very low positive outcome rate, and can make it worse.
The best ways to reduce, and eventually get rid of, the inflammation are rest, ice, and ibuprofen. Especially ice.
Based on what you've said, I would also suggest you see another doctor or therapist. Make sure you find someone who is a runner, or at least has extensive experience with runners. It's usually not that hard to diagnose IT band injuries. Has your doctor done the Noble Test?
Also, since you've had significant inflammation and pain for a long time, it's possible that you may have built up some scar tissue and/or created a secondary injury of some sort that's causing some of the symptoms that are not classic to IT band problems.
But none of this is unexplored rocket science to a good doc or pt who really knows running. Where are you located?