The injury limited Collins at Wednesday's practice, but coach Jim Caldwell said Collins was "coming along" and expected to do more work on Thursday.
"He did some things and didn't do some others," Caldwell told the Indianapolis Star. "But we anticipate that today he's going to do a little bit more."
It's unclear when Collins was injured during last week's loss to Cleveland.
If Collins were sidelined, backup Curtis Painter would start. Painter took some snaps with the starters Wednesday.
Caldwell also said that quarterback Peyton Manning, who is expected to miss at least two months after undergoing neck surgery, could be in the coaches' booth Sunday if doctors clear him.
The Associated Press contributed to this report.