February 2025
Streamlining Nevada’s Economy: Removing Barriers for Growth and Innovation
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EVADA’S ECONOMIC STRENGTH HAS LONG been built on innovation and resilience. From small businesses to major industries, the state thrives when efficiency and growth go hand in hand. Yet, governmentimposed barriers—like unnecessary middlemen and outdated regulations— are increasingly hindering progress. These obstacles drive up costs, reduce quality, and create frustrations for businesses and consumers alike. Nevada’s Legislature has a clear opportunity to embrace reforms that streamline operations, reduce redundancy, and unleash economic potential. An area where these challenges are particularly acute is retail. Pharmacy benefit managers (PBMs) and excessive credit card interchange fees represent examples of entrenched inefficiencies that harm businesses and consumers. Addressing these issues is key to fostering a more
By Bryan Wachter
Bryan Wachter competitive and accessible marketplace. The PBM Problem: Prioritizing Profits Over Patients Pharmacy benefit managers were originally intended to make prescription drugs more affordable and accessible by negotiating better prices with manufacturers and insurers. Over the years, however, PBMs have evolved into powerful intermediaries whose practices often inflate costs and restrict access to medications. Consumers frequently encounter higher prescription prices and frustrating delays caused
by PBM-driven policies. These entities dictate formularies—the lists of covered medications— based on profit incentives rather than patient needs. Meanwhile, independent pharmacies struggle with unsustainable reimbursement rates and unpredictable clawbacks, which threaten their ability to stay in business. This reduces competition, particularly in rural areas where access to pharmacies is already limited. Nevada lawmakers can address these issues by enforcing greater transparency in PBM operations, ensuring fair Continued on page 5
INSIDE State of the State 2025.......2 Speaker Yeager Challenges Governor..........3 Competing Agendas...........4 Nevada News.......................5 Assembly Committee Assignments................... 6, 7 Senate Leadership and Committees..................8 Assembly Freshmen............9