Hospital Full Disclosure and Cost Review Act of 1979

Hospital Full Disclosure and Cost Review Act of 1979 - Establishes a 15-member National Commission on Hospital Cost Containment to study: (1) the effect of policies and procedures (including use of deductibles, coinsurance, cost- or risk-sharing, tax deductions and exclusions, and prepaid health plans) relating to payment of hospital services on (A) consumer and physician awareness of the cost and quality of different hospital services, and (B) the utilization and quality of hospital services; and (2) the desirability of increasing the use of such methods in federally funded and other health insurance programs. Directs the Commission to submit such study and recommendations to the appropriate congressional committees within two years of its appointment.

Directs the Commission to prepare a report on measures to control costs in the health care industry, such as changes in methods of third-party reimbursement, physician reimbursement, payment for drugs and medical supplies, utilization of health facilities and services, and capital expenditures, and to submit such report to Congress within one year of enactment.

Authorizes the Secretary of Health, Education, and Welfare to provide financial assistance for up to 50 percent of the expenses involved with the planning, establishment, or operation of State mandatory hospital cost containment programs.