PI chiropractors wait 6–18 months for LOP, medpay, and workers comp to settle. Learn how per-payer virtual accounts and yield on the float make the cash flow gap manageable.
PI chiropractors live with 6-month AR. LOP, medpay, workers comp, attorney-direct payments. Per-payer virtual accounts plus yield on the float make the wait less expensive.
Most guides to banking for chiropractic practices (opens in a new tab) cover the cash-and-membership mix, but 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.
PI chiropractors typically face:
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, which is exactly the gap chiropractic-specific banking (opens in a new tab) is built to smooth.
Per-payer virtual accounts, not a pile of separate bank accounts (opens in a new tab), give you a clean view of what you have collected and what you are still waiting on:
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.
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 (opens in a new tab) at $2.50 per check covers paper settlement checks, which are still common in PI work.