hi pkshl, if you're refering to the belly button sticking out (umblical hernia), my son had it but it subsided when he was 4 months. i was also worried then i found this site (this is the doctor who authors the ieatishootipost blogs)
Karri Family Clinic Tampines: Help Doc! My Baby's Belly Button Sticks out!
hope the info will ease your nerves a bit and also maybe acts as a sort of 2nd opinion.
procedures and costs wise for ops, sorry, can't advise there.