The value of primary medical and health services needs to be created by both the supplier and the demander. Presently, governments at all levels are constantly committed to optimizing the supply system of primary medical and health services, but the participation of primary residents is still insufficient. Therefore, based on the theory of value co-creation, this paper tentatively constructs the conceptual model of value co-creation of primary medical and health services, from the perspective of family doctors’ contract service, this paper interprets the practical dilemma of value co-creation of primary medical and health services, and analyzes the driving factors of value co-creation of primary medical and health services, then put forward corresponding enlightenment on this basis.