Second year here, so I haven't done the LIC yet. Still, I'll answer as best I can. Things are changing, so keep that in mind.
Most of your rotations (including IM) will be outpatient as of now. Currently, students spend half-days in outpatient offices for each of the 6 core specialties with three half-days of "white space" that can be used to explore other specialties, do research, or catch up on reading. There are also ten "burst weeks" where you will spend the entire week in one specialty (IM, surgery, peds, OB, etc.) in the inpatient environment. See here for more:
http://www.tcmc.edu/StudentBulletin#MDCourses.
The TCMC graduate you talked to was probably referring to moving around different rotations to follow a patient through the spectrum of care. For example, scheduling your IM/surgery/white space so you can see a patient on presentation to your primary care preceptor, the patient's consult with your surgery preceptor, and the actual surgical procedure in the OR.
I'll end this post by saying that some changes are likely coming to the LIC.
@plasmamorris can elaborate better than I can. Nothing is official as far as I know, though.
