It may have been helpful to get the police report at the time of the incident. Nevertheless, getting a police report doesn't mean you're going to get your money. I suspect that if you call the police, you may have the opportunity to fill out some type of incident report and it may or may not be investigated - no harm in making the call and providing all of the information about the other driver and the facts of the incident. The cops where I live certainly have better things to do, but what you are really doing is creating a record of the incident which you can later use in your efforts to collect from the driver.
Here is what you need to do: Send her a demand letter stating that if she does not send you a check for x dollars, you are going to file a small claims complaint. Assuming she ignores your request, sue her. In my jurisdiction, the filing fee for a small claims complaint is about $35 bucks, but those court costs are often recoverable assuming you get a judgment. Get a repair estimate or copy of the bill if you've already had your bike repaired. You could also offer the police report as evidence. All of those things might be "hearsay" under the formal rules of evidence, but those rules are often relaxed in small claims court. You may also want to take some pictures. Any other damages? Injuries, lost wages, etc.? Be prepared to document those damages as well.
Here's the kicker: Even IF you go to all of this trouble to get your case filed and prepared, and IF you are able to perfect service upon the driver and she shows up for trial, and IF you prevail and get a judgment against her, you still have to collect on the judgment, which may take more time and effort.
If you've got the time, then by all means go for it. If the driver was negligent in the operation of her vehicle causing damage to you or your bicycle, then she is legally responsible to pay for the damage she has caused. On the other hand, you may end up spending more time and money then it's worth.
No harm at all in calling the police. Perhaps you can at least take some satisfaction in the possibility that the driver's insurance rating will be negatively effected by the adverse report. Good luck!