RBC indices like MCV, MCH, MCHC and RDW provide quantitative measurements of red blood cell size and hemoglobin content that can help diagnose different types of anemia. A low MCV and high RDW indicate iron deficiency anemia, while a high MCV and RDW suggest megaloblastic anemia. The combination of various RBC index measurements, especially with RDW, aids in the differential diagnosis of anemias. However, RBC indices alone cannot definitively diagnose disorders and require correlation with other test results.