No, it's one and done. So is Turn Undead. So are all of the other Channel Divinity options except Knowledge (until long rest) and Trickery (concentration).
I thought turn undead stayed on until you broke concentration.
Turn Undead doesn't use concentration. It's a one time effect that applies the Turned condition to undead that fail a Wisdom save. Turned ends after 3 rounds or when the affected creature takes damage.
The condition lingers but the Channel Charge only attempts to apply it once.
As to Preserve Life it's effectively a Mass Healing Word that uses an action and can be cast 1-3 times per Short Rest rather than using a Spell Slot.
Some CD spells are just one and done until you long rest.
Channel Divinity Charges come back on a Short Rest.
You can also gain multiple CD Charges: +1 at Cleric 6 and +1 from the Amulet of the Devout.
So even a 2 lvl Cleric dip can net an ability you can use 6-8x per Long Rest.
With a lvl 12 Life Cleric this is potentially 432 points of healing per allied living creature per long rest.
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