Inspired by infectious disease dynamics and modern psychology, this paper aims at constructing a multi-dimensional function to get the model of information dissemination on social networks under epidemic-related panic base on the characteristics of individual differences and global characteristics, like emotional cumulative effect, herd effect, time-sensitive decline effect, cognitive level, intimacy, personal influence, etc. The results show that the psychological effect has a significant effect on the increase of the spread of panic news; When netizens are in an emotional atmosphere, their emotional self-regulation ability is limited; when the infection rate is relatively low, the characteristics of individual differences play a leading role in affecting the spreading process. When the infection rate is high enough, the herd effect and emotional cumulative effect play a major role in promoting information dissemination; In a society with a higher rate of emotional contact, it is easier to form a kind of collective wisdom, which can help the collective quickly identify rumors. Moreover, in this kind of society, the role of opinion leaders is limited, and timely refutation of rumors can significantly reduce the spread of panic news.