A 68-year-old patient with a history of COPD presents to the emergency department with worsening dyspnea, increased sputum production, and a low-grade fever. Which of the following interventions should be prioritized in the initial management of this patient?
Prepare for immediate intubation
Administer high-flow oxygen to rapidly increase SpO2 above 98%
Administer oxygen therapy to maintain SpO2 between 88-92%
Immediately start intravenous corticosteroids