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The term "hemoconcentration" refers to the increase in the concentration of formed elements in the blood, such as red blood cells, white blood cells, and platelets, that occurs as a result of a decrease in plasma volume. This can occur due to various factors, such as dehydration, fluid loss, or certain medical conditions. In situations where plasma volume decreases, the remaining formed elements become more concentrated, leading to a higher hematocrit and increased viscosity of the blood.

Understanding hemoconcentration is crucial in phlebotomy and clinical practice because it can affect laboratory test results, leading to potential misinterpretation of a patient's health status. This phenomenon highlights the importance of proper hydration and sample collection techniques to ensure accurate assessments in diagnostic testing.

The other terms provided have distinct meanings: hemorrhage refers to blood loss, hematoma signifies a localized collection of blood outside of blood vessels often due to trauma, and hemolysis describes the breakdown of red blood cells, which can also impact laboratory results but is not related to plasma volume changes.