I am 38 weeks dilated to 2 and 80% efffaced, I have very painful contractions every 5 mins. Time to go in?

Yes. It is highly likely you'll be admitted for delivery. Sometimes, on arrival at l&d, the contractions diminish and if all is fine with baby after an hour of monitoring the baby's heart, you could go home. For most, it may be time to break the bag of water and proceed to the process of birth.