In consultation with each medical school in this state, the board shall adopt rules for the administration of the program established under this subchapter. The rules must include:
(1) administrative provisions relating to the awarding of grants under this subchapter, such as:
(A) eligibility criteria for medical schools, including a requirement that the medical school demonstrate regional and state workforce need;
(B) grant application procedures;
(C) guidelines relating to grant amounts;
(D) procedures for evaluating grant applications; and
(E) procedures for monitoring the use of grants; and
(2) methods for tracking the effectiveness of grants that:
(A) using data reasonably available to the board, consider relevant information regarding the career paths of medical school graduates during the four-year period following their graduation; and
(B) evaluate whether and for how long those graduates practice in a psychiatric specialty field in this state.