America's hospitals have agreed to give up billions of dollars to help pay for comprehensive health care reform.

Vice President Joe Biden announced the deal, Wednesday, saying hospitals will give up $155 billion in Medicare and Medicaid payments over the next decade.

Biden said the agreement will help President Barack Obama meet his goal of keeping the health reform deficit neutral.

"As more people become insured, hospitals will have less of the financial burden of caring for the uninsured and the under insured," he explained.  "[This] will reduce payments to recover these costs in tandem with that reduction."

Biden vowed that "reform is coming" to America's health care system and sent a firm message to lawmakers that, "We must, and we will, enact reform by the end of August."

Carol Keehan of the Catholic Health Association hopes the recent move is a step in the right direction.

"Coverage for all has been a goal of Catholic healthcare for decades and we know how urgently change is needed both for moral and economic reasons,"

The White House hopes the concession will reinvigorate health care reform talks on Capitol Hill.