For the last decade I have suffered from polycythemia vera. HRT or no HRT, I require frequent phlebotomy. I have had over 100 phlebos in the last decade...well over. I live and work in the desert, so I am out in 100 degree plus Temps all summer long. So naturally, I become dehydrated from time to time. I have intentionally had my CBC ran when dehydrated the day before phlebotomy to check the number against the next days when I was properly hydrated. I've done this twice. Both times my hematocrit level was 3 points higher when dehydrated as compared to being fully hydrated the next day. My own experience is that the phlebotomy reduces my hematocrit by the same 3 points. I talked to my DR about this and he confirmed that dehydration does indeed increase hematocrit levels, and may do so in some individuals by as much as 6 or 7%. We are talking about normal dehydration not severe. In other words, proper hydration is critical for those of us that suffer from polycythemia no matter it's cause. Stay hydrated fellas. It helps prevent stroke, clots, headaches, and all the other nasty things that having a high hematocrit level can cause.