An older patient with iron-deficiency anaemia, weight loss and a positive faecal occult blood test has gastrointestinal blood loss until proven otherwise. Colorectal cancer, especially right-sided, is the main concern. Weight loss makes malignancy more likely. Colonoscopy lets you see the lesion and biopsy it.
If colonoscopy is negative, the next step is upper endoscopy (EGD), then small-bowel evaluation such as capsule endoscopy.
A recent search of the last two years of meta-analyses found nothing that contradicts this. A
2024 meta-analysis (PMID 38977142) found that faecal immunochemical tests can improve colonoscopy triage in iron deficiency. It doesn't change the answer for a patient who already has weight loss and a positive occult blood test.