Intravenous sedation is sometimes used to perform minor procedures. For us, intravenous sedation is only performed by qualified anaesthetists.
Sedation results in a continuum of states that range from minimal sedation to general anaesthesia, depending on the dose used. For minimal sedation, it reduces anxiety only and you are still responsive. For moderate sedation, you would still respond purposefully to words and touch. When deeply sedated, there is only purposeful response when there is repeated or painful stimulation and you may require help to breath.
The risks are generally minimal. As the response to the different drugs and to different doses could be different for different individuals, the dose is titrated according to the response of the patient. You may become too drowsy for which a drug to reverse the effects may be given. There could be reduced breathing during sedation. Your oxygen level will be monitored throughout the procedure. Rarely, there could be allergic reaction to the sedative or vomiting.
For 24 hours after the procedure, your co-ordination could be affected and you should not drive or undertake skilled tasks. You should have a trusted relative or friend accompany you home after the procedure. You also should not drink alcohol or take other sedative drugs unless the doctor had prescribed to you.