The Patient Record Organization and Medical Information Security Enhancment Act
The Promise Act aims to safeguard medical data by implementing a "safety-rail" approach. All patient information will be stored under an index, which serves as the sole gateway to access this data, utilizing numerical, alphabetical, or combined indexing methods. While ensuring accessibility for critical medical situations, each access instance leaves a traceable watermark. This includes the accessing computer's IP address, physical location, and general area, stored in a separate database. Access to this database is restricted to a single agency, preventing any tampering with the stored data.
The Promise act will be funded by tax, as well as by the federal government. This bill will cost between 10-20 million when the bill is first introduced, and for the improvements to the cybersecurity, there will be an increase by 200k per year (by taxpayers), until total margin is 76 million. 30 percent from the public, and the remaining by the federal government. Note that the governemnt will first provide us with 20 million, and the rest of the 25-45 million will come over time from the federal government, and the 200,000 per year by the public.
Subsection 5.1 -
· Calculation for tax fund from the public:
· Annual improvement costs: $200,000 x 5 years = $1 million
· Now, to determine the required tax revenue, you would need to consider other funding sources, such as federal budget allocations, grants, and public-private partnerships. Let's say these sources cover half of the budget, leaving a gap of $10.5 million.
· If this gap is solely funded through taxation, you could distribute the tax burden across the population. For simplicity, let's consider a population of 300 million people in the United States:
· $10.5 million / 300 million people ≈ $0.035 per person
· Therefor, for each person, in the USA we can assume 3.5 cents per income is more than enough to fund this project.
· The people would take care of around 30% of total contribution, or around 21 million.
Subsection 5.2 -
· As a rough estimate and considering the significant impact of the PROMISE Act, a substantial federal contribution might be in the range of 50-70% of the total budget. This would mean:
· Federal Government Contribution: $45 million - $63 million ( considering the public will pay 21 million over a span of 4 years)
· It is the Federal Governments job to protect the people of this country, and therfor the federal government may have to fund a large portion of this project.
· The money from the federal government would help with the infrestructure (such as initial costs of maintaince, workforce, creation of databases) while the money from the public will help with the improvemnets over time.