Alternatives to surgery for a chipped piece of cartilage in their knee?

I dislocated my knee back in February, and hurt it again some days later, i was told i had dislocated it for 4 months and did physical therapy, now i am being told from MRIs that i have a chipped piece of cartilage floating in my knee the size of a nickle, i was told i can have surgery to remove this, is there another option besides just flat out leaving it be?