I have bright red blood with each bm. There is no pain and there may be slightly less blood after a week of this symptom. Should I be concerned.

Bright blood bleed. You may have a bleeding hemorrhoid but if you are 63 years old you should see your doctor as soon as possible. He'll want to do a rectal exam on you and probably do colonoscopy.
Yes. It is definitely time to have a doctor take a look inside your colon and rectum. It is not from hemorrhoids bleeding until a cancer or other lesion is ruled out by direct examination. Then you can relax or have it treated.