Generally a brace or wrap is never used for treatment of broken ribs. A study in 1990 showed that it wasn?t beneficial, and that it could actually cause more problems than it helped. Basically the only treatment is pain medications and not doing anything that could possible damage it more. Sometimes doctors will tell you to sleep sitting up, and or other things that could help prevent any more damage to the ribs.
If the injury is bad enough and there is risk of puncture to any body organs they can go in and do surgery. More often than not you are just left suffering trying to keep the pain down as much as possible and attempting to not do anything that could possible hurt you worse.
For more information you can go here http://www.mayoclinic.com/health/broken-ribs/DS00939

