From my understanding there's a score threshold based off the score they talk about during the interview (1/3 = GPA/MCAT, 1/3 = Interview Score, 1/3 = Faculty Vote)
So if you score over a certain amount, let's say 90%, you get an immediate acceptance. If you score below a certain amount, lets say below 10%, you get an immediate rejection. If you score somewhere in the middle then you have to wait until March, and those that are left and have the highest scores are then accepted with those just below them being waitlisted.
I want to make sure it's clear that I don't know this for certain. I have many friends in med school at the U, a handful of which have been the students that help with interviews, and from what I've gathered it's something along these lines.