This paper systematically searches policy texts of medical insurance payment reform at thenational level in China from 2009 to 2022，and uses the grounded theory research method to analyze 186collected policy texts in three levels of coding to identify and extract the policy mechanism analysis frameworkof medical insurance payment reform，therefore promoting win-win situation among three sides of“hospitals，medical insurance and patients”. This paper aims to analyze the policy mechanism of medical insurancepayment reform to promote a win-win situation among three sides of“hospitals，medical insurance and patients”and put forward policy suggestions for deepening reform in the future. After repeated analysis，comparison andconnection，this paper extracts 62 initial categories，11 subcategories，and 5 main categories from the policytext. The results show that each concept and category is complementary and mutually reinforcing each other.The five main categories of fund management，cost control，behavior change，resource allocation，and rightsand interests protection as different aspects in the reform，jointly promote the win-win situation. Based on thepolicy text analysis combined with the practical problems encountered in promoting the reform of paymentmethods in China，this paper proposes policy suggestions for achieving the win-win situation among three sidesof“hospitals，medical insurance and patients”from the above five aspects.