Abstract: The collaborative governance of medical care, medical insurance and medicine can ensure the efficient allocation of medical and health resources and the sustainable development of the pharmaceutical industry. It is an important measure for China to deepen the reform of the medical and health industry. To accurately grasp the fundamental connotation and governance model of healthcare reform, it is necessary to delve into the theoretical framework and practical development pathways of tripartite healthcare collaborative governance. Based on a review of the policy development trajectory of the tripartite healthcare reforms and existing research, this study defines the essential implications of tripartite healthcare collaborative governance in accordance with collaborative governance theory. It analyzes the multi-stakeholder structure, subsystem functions, and operational mechanisms of tripartite healthcare collaborative governance. Utilizing the successful experience of the Sanming healthcare reform as a typical case study, the paper identifies three major challenges in the tripartite collaborative governance model: low participation of stakeholders, barriers to resource and information sharing among subsystems, and the absence of a joint rule-making mechanism. Accordingly, it proposes that tripartite healthcare collaborative governance should establish an organizational coordination mechanism integrating unification and decentralization, create cooperative platforms for resource and information sharing, and develop a joint rule-making mechanism for tripartite healthcare collaborative governance.