It's already hurt and that's why there was room for these algae to settle on it.
It's not a big coral, so if you have some time try just manually plucking all the algae off (maybe using tweezers if it's hard to grab). When you feel like you've exhausted that option, if the algae still looks bad, then I say go for the peroxide spot treatment. (I've got a thread on it.)
But don't gloss over the underlying cause....often nutrient issues....usually too little. Possibilities. Whoa, this just in....
Not ppm?
And do you mean phosphorous? Checked by this meter?
The HI736 Checker®HC (Handheld Colorimeter) provides a simple, accurate and cost effective way to measure phosphorus in marine systems.
hannainst.com
That requires conversion to phosophate and ppm...
So 15 ppb phos translates to <5 ppm PO4. That's very low, and would spike critically low during (eg) water changes, coral growth spurts, or any other big demand events. I'd recommend reducing excess demand (eg excess filtration) and make sure you're feeding the fish well. If you do water changes, dose the new water so that the tank's no3 and po4 levels don't