Events such as oxygen leakage in the oxygen generation systems can have severe consequences, such as fire and explosion. In addition, the disruption in the oxygenation systems can lead to a threat to patients’ lives. Thus, this study aimed to identify the significant deviations in the oxygen supply system as critical equipment at hospitals based on the Hazard and Operability (HAZOP) method. Despite the advantages of risk assessment techniques, hazard identification techniques are still being utilized with deterministic and unreliable values and have a completely static nature. Therefore, using dynamic techniques to overcome intrinsic ambiguity in the risk assessment process through fuzzy sets has been recommended. Additionally, we proposed the HAZOP methodology to integrate with the intuitionistic fuzzy system for assessing the medical oxygen supply system using Pressure Swing Absorbance technology as a proactive approach. The results showed that the intuitionistic fuzzy approach, combined with the risk assessment method, is a suitable tool to eliminate uncertainty, improve decision-making, and result in more detailed and accurate findings. The approach adopted in this study can be used as a needs assessment tool to optimize maintenance programs and provide the necessary training for the staff, maintenance operators, and medical equipment managers.