where:
Remember that is a 4-vetor, gamma matrices are 4x4 matrices, so the whole thing comes down to a dot product of two 4-vectors, with a modified by matrix multiplication/derivatives, and the result is a scalar, as expected for a Lagrangian.
Like any other Lagrangian, you can then recover the Dirac equation, which is the corresponding equations of motion, by applying the Euler-Lagrange equation to the Lagrangian.