Based on all the new textbooks and AHA standards, oxygen administration is based on Sp02 readings. If the patient is below 94 give them oxygen and titrate to 94%. I also read somewhere that you can increase the damage in an MI by administering too much oxygen by causing coronary artery constriction and increasing the activity of free radicals.
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From the AHA site: http://circ.ahajournals.org/content/122/18_suppl_3/S787.full
EMS providers administer oxygen during the initial assessment of patients with suspected ACS. However, there is insufficient evidence to support its routine use in uncomplicated ACS. If the patient is dyspneic, hypoxemic, or has obvious signs of heart failure, providers should titrate therapy, based on monitoring of oxyhemoglobin saturation, to ≥94% (Class I, LOE C).36
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So if the above is true, your company is not adhering to the "Do No Harm" mantra of professional healthcare.