The Institute of Medicine (2012) and Benner, Sutphen, Leonard, and Day (2010) suggested a radical change within nursing education programs to move toward the goal of optimal patient care and to expand technologies and innovation. The World Health Organization (2011) supports the concept that health professionals must receive adequate education at the student level to be able to work in interprofessional teams that collaboratively solve complex problems. Simulated learning experiences incorporated into health care education have become an innovative and significant component of instruction. Studies on debriefing depict the practice of guided reflection during the post-simulation scenario activity of debriefing as a creative way to deepen learning, since learning occurs best when ideas and thoughts are shared, discussed and reflected upon with others (Dreifuerst, 2009; Wright & Lundy, 2012). Research indicates a lack of collaborative reflection tools for promoting group learning and increasing perceived individual knowledge exchange. The purpose of this phenomenological study was to determine the following research questions: 1. Does guided reflection, in the experience of the learner, increase knowledge exchange? 2. Does pairing the use of a guided reflection tool with simulated learning experiences increase participants' perception of learning? 3. Are collaborative health care teams able to exchange relevant information during simulated learning experiences? 4. In the experience of the participants, is guided reflection a valuable learning tool? A review of the literature provided the context for the study, and was organized into six sections. Volunteers from prelicensure programs (undergraduate and graduate) of nursing, and the undergraduate and graduate levels of occupational therapy and speech- language pathology students were asked to reflect on their lived experiences using guided reflection following simulation in a training environment. Six main themes were identified from the data analysis. Based on the results, the implications for health care education and transition to professional practice are discussed. The contributions serve to aid health care students and the educators who integrate collaborative education and reflection processes into the curriculum. Future research to further the findings of this study may support reflective tool usage in interprofessional simulated learning experiences.