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Hi there,This is Dr Basu, experienced Internal Medicine Specialist.I am here to address your concerns and provide great service.
Liver disease can cause low cholesterol. Low hemoglobin level can be due to the iron deficiency, vitamin B12 deficiency, or bone marrow problem. Certain malignancies can cause such changes for example. Do you have his detailed labs here?
That is reasonable approach. He should be admitted to hospital if his condition deteriorates further. CT scan should include chest, abdomen and pelvis to look for any tumor or its spread. Peripheral blood smear is also required to look for any blood cell malignancy. Serum and urine protein electrophoresis also required to check for paraproteinemias like multiple myeloma. Best wishes