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 make recommendations to the Secretary of Health, Education, and Welfare with respect to: (1) implementation of this Act; (2) modifications of hospital reimbursement under Medicare on the basis of retrospectively determined costs; (3) the rate of increases in hospital expenses and the success of the voluntary efforts of hospitals to lower such rate; (4) the costs to hospitals of Government regulatory requirements with recommendations for the most cost-effective regulations; (5) the impact of technology on hospital costs and quality of services; and (6) any other matters affecting hospital expenses or revenues. Directs the Commission to consult with appropriate professional organizations in the conduct of its activities.

Directs the Commission 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.

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 voluntary or mandatory hospital cost containment programs. Sets forth requirements with respect to such programs.

Sets forth a finding of Congress that existing philanthropic support for hospitals is a strength which should be preserved and enhanced.

Amends title XI of the Social Security Act (General Provisions) to provide that gifts, grants, and endowments shall not be deducted from any operating costs of nonprofit hospitals for purposes of determining under the Maternal and Child Health, Medicare, and Medicaid programs the reasonable costs of services furnished by such hospitals.

Prohibits a State from establishing a law or regulation respecting the limitations upon the revenues of hospitals which treat as revenues amounts attributable to specified types of grants, gifts, or endowments. Applies such restriction to any Federal law providing for the containment or control of hospital costs.