I'll try to explain this as well as I can. It could have even been early 90's. It starts with these girls waiting in a hallway while a little boy is playing doctor with one of the little girls on the other side of a door. The girls see the blood after he kills their friend and they run away. They show one of the girls later as a teacher who goes back to the school they went to. She hears a bicycle bell and knows the boy is around. I think we find out that he was an aborted fetus that the doctor (his "father") had reanimated.
Milo
http://www.imdb.com/title/tt0167284/
http://www.braineater.com/milo.html
That is it. With the film quality, I thought for sure it was an 80s movie! lol Thanks so much!