Augustin sprained his ankle in the final minute of Monday night's 96-95 win over the Milwaukee Bucks, but X-rays were negative.
Augustin didn't practice Tuesday, but coach Paul Silas said "he's hurting, but he thinks he might be able to make it (Wednesday) night."
Augustin scored a team-high 19 points, including a driving layup that put his team ahead for good with 36.5 seconds left, as the Bobcats came back from a 14-point second half deficit.
Augustin knows a bigger test is coming when LeBron James and the Heat arrive.
He watched the Heat play on Christmas and was impressed, saying, "They look like they have a chip on their shoulder. We know they have a great team, so we have to come in and play hard like we did against the Bucks."
Silas said the Heat will serve as a good measuring stick for the Bobcats. "They're just so talented it's unbelievable," he said of Miami.
"I'd like to see how we do against a team like that," Silas said. "Can we stay competitive and not get blown away? I think if we do that we will have a chance to really improve. But it's tough to keep a team like that down."
Information from The Associated Press was used in this report.