Polycythemia vera (PV) and essential thrombocythemia (ET) are types of myeloproliferative neoplasms characterized by increased red blood cells in PV and increased platelets in ET. Both can involve increased white blood cells and risk of thrombosis, spleen enlargement, itching, and progression to acute myeloid leukemia or myelofibrosis. PV and ET involve an acquired abnormal clone with mutations in genes like JAK2 and MPL. The document discusses diagnostic criteria and distinguishing PV and ET from secondary causes of increased red blood cells or platelets. Bone marrow testing is often not required if criteria are met.