My long tentical plate coral has a death wish......

Keeps traveling strait towords my red lobo that is on the bottom of the tank. It finally got close enough, and touched it. Needless to say- it did not far well. Less than 1/3 of a slice of tissue is still there, in a triangular shape. Its hard to say if there is tissue at the mouth or not. Still expands tenticals, but not like it used to.

My questions-

What are its odds of survival? Does it need tissue at the center (its mouth) to survive? Can it regrow its mouth? And what can I do to improve its odds of survival?