Yes but it might also be associated with other conditions like UTIs,Bladder injuries,Kidney stone,kidney infection or any other blood disorders.
Blood in urine can be alarming as it can be due to urinary tract infection, kidney infection, bladder or kidney stone, enlarged prostate, kidney damage or disease, inherited conditions like sickle cell anemia and kidney/bladder/prostate cancer.
In case of any kidney damage it has to be evaluated by a doctor and treated medically. On a general note, you can keep your kidneys healthy by staying hydrated, healthy eating, exercise to keep ideal weight, do not smoke or drink alcohol too much and monitor blood pressure regularly.
You can check for any change in color and/or amount of urine, presence of any foam, blood in urine, pain while urination, swelling in legs or face, fever. Also, you can get checked with basic tests like RFT and CUE. It is suggestable to consult a doctor if you observe any changes and get treated accordingly.
Reduced urine output is a better indicator of failing kidneys than urine colour. Urine colour varies with type of food & amount of water taken, medications, exercise and kidney infection.