A 64-year-old man presents to the clinic for a laboratory follow-up. The patient has multiple comorbidities, including hypertension, coronary artery disease, chronic kidney disease, diabetes mellitus, and osteoarthritis. His laboratory studies show a hematocrit of 32%, a hemoglobin of 10.5 g/dL, a total iron level of 48 mcg/dL, a total iron binding capacity of 300 mcg/dL, and a ferritin of 50 ng/mL. Which of the following is the initial step in the plan of care? Daily ferrous sulfate and folic acid Erythropoietin every other day Management of comorbidities Referral to a hematologist