Background: We aimed to determine the utility of inpatient colonoscopy for patients presenting with acute lower gastrointestinal bleeding (ALGIB) after the bleeding had stabilized, its impact on readmission rates, and predictors of 6-month readmission risk. Objective: To assess the role of inpatient colonoscopy in patients with ALGIB and its effect on readmissions. Methods: A retrospective case note analysis over five years of ALGIB admissions to the Colorectal Unit at Monash Health, a tertiary care centre in Victoria. Adults (≥18 years) admitted with ALGIB from 1st January 2014 to 31st December 2018 were included. Those medically unfit for colonoscopy were excluded. Main Outcome Measures: Readmission with lower gastrointestinal bleeding within six months. Results: Of 454 admissions, 91 underwent inpatient lower GI endoscopy. Thirty-nine patients (8.6%) were readmitted within six months. Among the 454 patients, 255 (56.1%) were using anticoagulants/antiplatelets. Readmission rates did not significantly differ between patients on anticoagulants/antiplatelets and those who were not, irrespective of inpatient colonoscopy. Conclusion: Our findings showed no significant reduction in 6-month readmission rates for ALGIB patients after inpatient colonoscopy. This suggests that readmission rates may not be affected by the timing of colonoscopy. Further research is needed to guide Australian guidelines for inpatient colonoscopy, considering factors beyond readmission rates.