An intravascular catheter site pad is provided for thermal exchange (e.g. cooling) adjacent to a catheter introduction site (e.g. a catheter for the administration of a chemotherapeutic agent). The pad includes an opening defined by an opening edge that may be positioned about the catheter introduction site. The pad may further include a fluid containing layer and an inlet port and an outlet port for circulating fluid (e.g. cooled fluid) through the pad. The pad may be fluidly interconnected to a fluid conditioning unit to circulate fluid through the pad under negative pressure. The pad, system and an associated method may be employed to reduce tissue damage at an IV catheter introduction site.