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Most likely the bump is a pingueculum (usually due to sunlight damage or chronic rubbing by a contact lens).
The ophthalmologist MD can make a proper diagnosis and usually give drops to quiet the redness and inflammation down. Surgery is not normally necessary.
This is different than a pterygium where the tissue grows over the cornea and sometimes needs to be surgically removed. Use Google Image and type in these two terms and you can see pictures.
JCH III MD Eye MD