We're going to deal with it by putting this up your butt and giving you the treatment you need. Kancho!

処置 is commonly used when treating injuries or illnesses. It can also refer to deciding how to handle a situation or the act of handling it, but in these cases, people usually use 処理 instead.

This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.