Torn ACL/Meniscus -- Do I really need surgery?

I have injured my right knee 2 weeks ago. When I got my MRI done, they told me I had a torn ACL and meniscus. Since then I've been in a leg brace and sitting around at home. I have been trying to get paperwork processed through my hospital for surgery. However, I'm wondering, do I really need surgery or will it be possible (with a little physical therapy), will I be able to walk soon? How long does it usually take to feel up to par to walking and such? The paperwork is taking a long while and they say that it might take up to a month for it to go through... I think that's a bit too long and I'm getting cabin fever just sitting around at home. Sigh.