I've had a loud grinding sound in my hip over the past three months should I be concerned?

Possibly. There are multiple potential causes, but it would probably be wise to be seen to get an accurate diagnosis.
Yes. You should be evaluated by a rheumatologist or orthopedic surgeon. The sooner you get this evaluated the sooner you can get appropriate treatment.
Hip. Is this painful? If you are experiencing pain with this "grinding" sensation, you should see an orthopedist for an xray and exam.