Is there a way to heal ripped tissue in a belly ring?

I got my navel pierced on my birthday march 5. One day i guess my dogs foot got caught on the ring and she sorta yanked it and now there's not huge but i tiny piece of skin that hangs or sticks out of my belly ring and its lik a round bulgypiece of skin im not sure wat it is but its not really tht bad it bleeds alot wen i take the ring out. I really don't wanna take it out and let it heal then get it repirced. I just need it to heal. What can i do abt this and still keep my belly ring????