It should, but you have to experiment. That is what Ivey started on. Try every 12 hours and move to 8 if she shows discomfort. You have to talk with your vet about upping the meds if every 8 hours does not work. I talked to Ivey's vet every time we upped meds. I remember my acupuncture vet saying that tramadol is usually under dosed by most vets (many are not familar with the drug).
I think with Ivey we did 50mg twice a day, then moved to 4 times a day, then went to 100mg alternating with 50, then to every 4 hours. It's not an exact science. It depends on the dog and how they tolerate and use the drug. I knew when we got to 100mg every 4 hours and it stopped working, it was time. I was very concerned about her leg breaking.
However, that said, you can add morphine to the mix for pain control as well as neurontin. There are lots of options and combinations.