I'm also gonna say this to, even if the bleeding is stopped Raymond is still at very high risk of some form of infection slipping in. Now i'm not in the medical field. Since there is a major lack of sterile equipment Tiffany used Ray's machete on him to remove the leg and that had been used to fight off walkers so the potential of infection would most likely kill him without antibiotics. 

And if he does survive Ray would have to deal with life bound in either a wheelchair or crutches, unless they find a prosthetic floating around somewhere. So Ray wont be running at all anytime soon at all, anyway I said what I needed and gonna drop it at that again not in the medical field but that's about as far as I know. So far the rolls have been in Ray's favor so he could survive or not just have to wait for the rolls ect.