Typically only around 50% of the med masters class gets into EVMS immediately but the number who get accepted to a medical school is usually closer to 60% at the end of the program then goes up to 70-80% after one year and finally 80%+ after two years (contact the program for specific acceptance numbers for past classes). So med masters applications to EVMS are handled very differently than normal applicants, first off the school will largely ignore most of your course work before the masters program (which is a good thing for most students) but things such as MCAT score, healthcare experience, volunteering, your interview, etc. are weighted when it comes to acceptance. EVMS specifically waits to interview med master students until spring so that they have at least an entire semesters worth of grades to look at as well as a better idea of who each applicant is as a student/person. Med master students are all shooting for specific group of spots that EVMS holds open specifically for their med master program so there is no real need to worry about interviewing early or completely the secondary early.
The med master class can usually be split into 4 groups, those that excel, those that did well, those that did what was required of the program, those that did poorly. Now usually there isn't a ton of students who do poorly and the few that I know about usually dont complete the program (e.g. a student pulling Cs in the first semester classes) there is no sense in paying the tuition for the second semester if you are doing so poorly that it wont help you and may in fact hurt you. So this leaves us with three groups; those that excel are usually students getting straight As or nearly straight As (gpa >3.8-3.7) while there aren't a ton of people in this group they do exist and almost always get accepted right away unless they do something incredibly stupid, those that do well in the program usually have a 3.8-3.7<gpa>3.4-3.5 I will talk about them in a sec, the final group has a 3.4-3.5<gpa>3.0 these students did enough to complete the program but they typically do not get accepted to EVMS right away but people from this group can and do get accepted elsewhere or at EVMS in future cycles. Basically if you excel you are in unless you shoot yourself in the foot and if you just did enough to complete the program you will likely be looking at another application cycle. The group that did well but not excel is where it gets hard to say who gets in but its fair to say the higher your gpa is in this range the better your odds are but things like extracurricular activities, MCAT score and healthcare experience begin to play a more important part in stratifying students. Now when I was in the program my goal was a 3.67 gpa (basically straight A-s) I feel that this gpa is a really good number to be at or above because in my experience if you dont get accepted with a ~3.7+ gpa there is something else going on with your application that is causing you problems. Please note that these gpa numbers are just my personal opinion and that they can range up or down 0.1-0.2 depending on the overall performance of the med master students and while getting a very high gpa or even a 4.0 makes it very likely to get accepted there is no hard cut off line for a guaranteed acceptance or rejection.
Yes you are correct, if accepted into the next MD class at EVMS you graduate in May and then start the MD program that August.