The 22-year-old was immediately subbed out after landing awkwardly in the third quarter of Collingwood's 20-point win over West Coast at Patersons Stadium on Sunday night.
Magpies football manager Geoff Walsh said Reid would miss the club's virtual NAB Cup semi-final against the Brisbane Lions at Etihad Stadium this Saturday night, but would not miss a significant amount of time.
"The outcome of today's medical assessment is positive. Ben won't play this week but beyond that we don't feel it will cause any interruption to his season," Walsh said.
The assessment on Monday was similar to Nathan Buckley's immediate reaction post-game on Sunday night.
"We weren't going to take any [risks] tonight and we just put him on ice," Buckley said of Reid.
"All reports are that he's going to be right."
The Magpies open their season with a Sunday fixture against North Melbourne at Etihad Stadium on March 31.
Ben Guthrie is a reporter for AFL.com.au. Follow him on Twitter - @AFL_BenGuthrie
