Hemoglobin estimation is important for diagnosing and monitoring anemia. The document discusses the structure and function of hemoglobin and various laboratory methods for estimating hemoglobin levels. The most accurate method described is the cyanmethemoglobin method, which converts all forms of hemoglobin except sulfhemoglobin into cyanmethemoglobin, which is then measured spectrophotometrically. Other common methods discussed include the Sahli acid hematin method and WHO hemoglobin color scale, which are useful for screening but less accurate.