There are two ways of looking at implications: what are the causes, and what are the effects?
Causes: are minorities applying to more programs because they are advised to do so by faculty or peers, because they perceive that they are less competitive, because they fear they will be discriminated against, because they are more willing to go to different locations or caliber of programs, because they are more risk-averse, because they can afford it? These questions influence how to advise students applying to residencies.
Effects: when controlling for higher application number, are minorities matching at rates similar to whites, matching to their top choices as often, interviewing at as many places, spending as much money and time away from the fourth year curriculum?
Asians are typically defined as non-underrepresented minorities (NURM), where the "non" modifies "underrepresented" rather than "minority". Insofar as whites comprise the majority, Asians are a minority. There was a letter in JAMA this year that mentioned how grouping Asians with whites in workforce analyses is not really appropriate and sweeps under the rug the problems that Asians might face in particular in ascending the ladder of academic medicine. Source:
http://bit.ly/1l2lRTG