The management of small hyphemas remains controversial. Some authors advocate hospitalization, strict bed rest, and medical therapy with aminocaproic acid. Others are less conservative and recommend treatment on an ambulatory basis without the drug. In order to establish the overall rebleed rate for small hyphemas and to assess whether or not strict bed rest improves the prognosis, we studied 73 patients with small hyphemas occupying less than one third of the anterior chamber. Thirty-seven patients, during the first year of the study, were hospitalized and treated with strict bed rest while 36 patients, during the second year, were hospitalized but allowed to ambulate freely. The overall incidence of rebleeds was 15% (11 of 73). The incidence of rebleeds and other complications was not statistically different between the two study groups. Additionally, the final visual acuity in both groups was essentially identical. We conclude that bed rest does not improve the prognosis in cases of small hyphemas.