A 58-year-old male smoker with a 30 pack-year history presents with progressive dyspnea, cough, and sputum production for 6 months. Spirometry shows FEV₁ 42% predicted with FEV₁/FVC ratio of 0.68. Chest X-ray reveals hyperinflation and bullae. He denies fever or hemoptysis. What is the most appropriate next step in management?

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