How Should A Possible Right MCL Tear Be Dealt With?

I'm age 45, just about to graduate from med school myself. I am embarrassed to ask this, but after a lot of searching, still have no answer: I damaged my knee while cavorting around seashore rocks about 20 yrs. ago. I did nothing at the time (it swelled, then improved after a few weeks), but over the last 2 yrs., it's giving me lots of problems. Seems to be a right MCL tear. Is there anything new in the way of an operation? Everything I read says that such operations are not really successful, and anyway are done only for better athletes. Also, do I exercise it "to the ground", or is it better to do the opposite and keep weight off it? Thanks!