How to manage a patient with smoldering multiple myeloma (SMM) and elevated hemoglobin and hematocrit, with increased risk of thrombosis?

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Elevated Hemoglobin/Hematocrit in Smoldering Multiple Myeloma: A Paradoxical Finding Requiring Vigilance

Elevated hemoglobin and hematocrit in a patient with smoldering multiple myeloma (SMM) is atypical and warrants investigation for secondary causes, as SMM typically presents with normal or declining hemoglobin; however, this finding significantly increases thrombotic risk and mandates aggressive thromboprophylaxis if the patient requires any treatment.

Understanding the Clinical Context

SMM is characterized by asymptomatic disease with ≥10% bone marrow plasma cells and/or serum M-protein ≥3 g/dL without end-organ damage 1. A progressive decrease in hemoglobin is actually the most frequent and reliable indicator of progression to active myeloma 1. Therefore, elevated hemoglobin/hematocrit represents an unusual presentation that requires careful evaluation.

Immediate Diagnostic Considerations

When encountering elevated hemoglobin/hematocrit in SMM, you must:

  • Exclude secondary polycythemia by checking erythropoietin levels, oxygen saturation, and evaluating for sleep apnea, chronic lung disease, or renal pathology that could stimulate erythropoiesis 1
  • Rule out polycythemia vera through JAK2 mutation testing, as this represents a distinct myeloproliferative disorder that can coexist with plasma cell disorders 1
  • Assess for dehydration or hemoconcentration through clinical examination and basic metabolic panel 1

Critical Thrombotic Risk Assessment

The combination of SMM and elevated hemoglobin/hematocrit creates a substantially elevated thrombotic risk that requires immediate attention:

Baseline Thrombotic Risk in Multiple Myeloma

  • Patients with multiple myeloma have a baseline risk of 3%-4% for venous thrombotic events 1
  • This risk is significantly enhanced by specific therapeutic agents, particularly immunomodulatory drugs (IMiDs) like thalidomide and lenalidomide 1

Compounding Risk Factors

Multiple factors increase thrombotic risk in this population 1:

  • High-dose dexamethasone therapy
  • Cytotoxic chemotherapy (doxorubicin)
  • Reduced mobility from neurological complications or bone pain
  • Concurrent use of erythropoiesis-stimulating agents (ESAs)
  • Prior personal or family history of thrombotic events
  • Elevated hemoglobin/hematocrit itself

Management Strategy for SMM with Elevated Hemoglobin

If Patient Does NOT Require Treatment (Standard SMM Management)

Most patients with SMM should be observed without treatment 1:

  • Follow every 3 months during the first year to establish pattern of evolution (evolving vs. non-evolving type) 1
  • Monitor CBC, serum creatinine, calcium, albumin, hemoglobin, and M-protein levels 1
  • Patients should not be treated until progressive disease with end-organ damage is evident 1
  • In this scenario, the elevated hemoglobin/hematocrit should be managed as a separate medical issue (treat underlying cause if identified, consider phlebotomy if significantly elevated to reduce thrombotic risk)

If Patient DOES Require Treatment (High-Risk SMM or Progression)

If treatment is indicated based on high-risk features or progression, thromboprophylaxis is mandatory 1:

Thromboprophylaxis Algorithm

  • For patients with 0-1 individual risk factors: Aspirin 100 mg daily 1
  • For patients with ≥2 risk factors OR receiving high-dose dexamethasone/multiagent chemotherapy: Full-dose anticoagulation with low molecular weight heparin (LMWH) or full-dose warfarin 1
  • Sub-therapeutic doses of anticoagulants (such as small doses of warfarin) are NOT recommended 1

Additional Risk Factors to Count

  • Elevated hemoglobin/hematocrit (present in your patient)
  • IMiD therapy (lenalidomide/thalidomide)
  • High-dose dexamethasone
  • Prior thrombosis
  • Reduced mobility
  • Concurrent ESA use (which should be avoided given already elevated hemoglobin)

Critical Pitfall: Erythropoiesis-Stimulating Agents

Never use ESAs in a patient with elevated hemoglobin/hematocrit 2, 3:

  • ESAs should only be initiated when hemoglobin falls below 10 g/dL 2, 3
  • Target hemoglobin with ESA therapy is 10-12 g/dL, never exceeding 12 g/dL 2, 3
  • Hemoglobin above 14 g/dL increases thromboembolic complications and hypertension 1
  • ESAs increase relative risk of thromboembolic events by 67% (RR 1.67; 95% CI: 1.35-2.06) 3

When to Initiate Treatment for SMM

High-risk SMM patients may benefit from early intervention 1, 4:

  • High-risk criteria include: ≥10% bone marrow plasma cells AND M-protein ≥3 g/dL, plus ≥95% phenotypically aberrant plasma cells, or immunoparesis, or evolving type 1
  • Treatment with lenalidomide and dexamethasone in high-risk SMM has shown improved time to progression and overall survival 1, 4
  • However, given elevated hemoglobin/hematocrit, this patient would require full-dose anticoagulation (LMWH or warfarin) if lenalidomide is used 1

Monitoring Strategy

For Observation Approach

  • CBC every 3 months for first year, then adjust based on stability 1
  • Monitor for signs of progression: declining hemoglobin (paradoxically, in this case), rising calcium, rising creatinine, new bone lesions 1
  • Full re-evaluation (bone marrow, skeletal survey) only when reasonable suspicion of progression 1

For Treatment Approach

  • More frequent monitoring given thrombotic risk
  • Assess for thrombotic symptoms at each visit
  • Consider hemoglobin reduction strategies (phlebotomy) if persistently elevated while on IMiD therapy

References

Guideline

Guideline Directed Topic Overview

Dr.Oracle Medical Advisory Board & Editors, 2025

Guideline

Management of Anemia and Neutropenia in Multiple Myeloma Patients

Praxis Medical Insights: Practical Summaries of Clinical Guidelines, 2026

Guideline

ESA Use in Multiple Myeloma Dialysis Patients

Praxis Medical Insights: Practical Summaries of Clinical Guidelines, 2026

Research

Smoldering Multiple Myeloma: Observation Versus Control Versus Cure.

Hematology/oncology clinics of North America, 2024

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Professional Medical Disclaimer

This information is intended for healthcare professionals. Any medical decision-making should rely on clinical judgment and independently verified information. The content provided herein does not replace professional discretion and should be considered supplementary to established clinical guidelines. Healthcare providers should verify all information against primary literature and current practice standards before application in patient care. Dr.Oracle assumes no liability for clinical decisions based on this content.

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