Welcome to Just Answer and thanks for your question. Bilateral means both sides. Subchondral refers to the layer of bone just underneath the cartilage. Sclerosis means thickening. Bilateral suchondral sclerosis refers to the thickened appearance of the subchondral layer of bone that is seen with osteoarthritis. Treatment is aimed at the osteoarthritis, which would be gentle exercise or physical therapy, non-steroidal anti-inflammatory drugs (naproxen, ibuprofen, Celebrex), intraarticular injections of steroids to relieve pain and inflammation, injection of hyaluronic acids (like Synvisc), glucosamine and chonfroitin supplements, heating pads, massage, etc.
Subchondral sclerosis usually affects the parts of bones nearest the joints, and it can be anywhere in the body there is a joint. Osteoarthritis is degenerative bone disease (also known as "wear and teart" arthritis) that just about everyone has to some extent by the time they are 50. The outcome is gradual deterioration of the joints with increasing pain. It is a frequent cause of knee replacement and hip replacement, for instance.