Hello [NAME],   The procedure is fairly simple, yes, after a failed disk has been identified, just remove the failed drive and insert a new one. Before you do it, it is advisable to have a full data backup. Do confirm that the drive has failed, either by LED status or OMSA logs or from PERC BIOS. Do remember to replace the drive similar to the DPN# as the failed drive, it is recommended, to avoid any complicated issue rise. 
I have a PowerEdge R320 with 2 SAS hard drives configured as raid 1, controller is Perc H710 Mini. One drive is in a failed state what is the procedure to replace? Do I just remove the failed drive and insert the new one? Thanks
Raid 1 Failure Replacement Procedure