Thank you for your question. Based on the picture it looks like healing normally. Swelling will go down with time. Please talk to your PS for evaluation.
From your photo and description, it appears that you have a small stitch abscess from a dissolving suture. I would suggest you keep the area clean with soap and water and apply a topical antibiotic ointment (Polysporin or Neosporin). In most cases, this will resolve over the next few...
It depends on your examination and how much skin needs to be excised but you are looking anywhere from $3000 to $5,000 in surgeon's fees. Please see a board certified PS who can examine you and go over your options.