A personal injury chiropractor faces a cash flow shape no one in school prepared them for. Patients come in after auto accidents, work injuries, or slip-and-falls. Treatment is paid through letters of protection, attorney settlements, auto insurance medpay, or workers comp carriers. None of that lands in 30 days. Average AR for PI chiros typically sits at six months. Sometimes longer.

The Six-Month AR Reality

PI chiropractors typically face:

• Letters of protection (LOP): paid at case settlement, usually 6 to 18 months out.

• Auto insurance medpay: typically 30 to 90 days, depends on the carrier.

• Workers comp: often 60 to 180 days.

• Attorney-direct payments: variable, often 6 or more months.

Layered together, AR sits at $100K to $500K for a busy solo PI chiro. That money is real, but it is locked in case timing you do not control.

Banking That Maps to How PI Cases Pay

Per-payer-type virtual accounts give you a clean view of what you have collected and what you are still waiting on:

• Virtual account: LOP-paid case settlements.

• Virtual account: auto insurance medpay.

• Virtual account: workers comp.

• Virtual account: attorney direct.

• Virtual account: cash-pay (non-PI patients, supplements).

• Virtual account: tax reserve.

Each settlement deposit lands in the right virtual account, so your monthly close shows what came in by source. Over time, you learn which attorneys close fast and which carriers are reliable. The data drives which referral relationships are worth deepening.

Yield and Sweep While Cases Settle

The structural advantage is yield on the float. While cases are in process, your collected reserve earns 1.75% APY across the structure. FDIC coverage runs up to $10M per entity through the IntraFi sweep network, so a settlement check does not sit uninsured between deposit and use.

ACH between virtual accounts is $0. Wires are a flat $15. Account opening is 5 minutes. The Medical Lockbox at $2.50 per check covers paper settlement checks, which are still common in PI work.