How do u get ride of a dent in the skin formed below a cyst? What does this mean? (photos)

I had a small lump form over a couple of mouths on my chest, so I went to the doctors and they said it was a cyst but a couple weeks after that a red spot started to form just below the cyst and it got bigger and dented as it grew and has now peeled several layers of skin what do I do? Can this be treated or will it heal on it's own?