This is a typical involvement that we see - an IV slough in the hand of an infant or in the leg where a saphenous IV has gone subq.
I think it's important that people understand just what is involved. The skin anatomy in a newborn is very different. At 24 weeks, there is very little stratum corneum, the dermis is almost on the muscle and there is really no subcutaneous fat. By 36 weeks, the skin becomes keratinized, the stratum corneum develops and the overall architecture of the skin is similar to that of an adult, but it is still only 50-60% of the adult thickness. If you add malnutrition, hypotension, edema, infection and some of the instability that newborns have, it really creates a hazard for their skin.
The treatment is to stop the IV infusion and aspirate whatever content was there through the existing catheter before you remove it. Remove the arm bands and tape, assess and document the color, presence of pain, presence or absence of capillary refill and change in color or temperature. We would like you to elevate the extremity.