ESSENDON expects James Hird to coach the Bombers on Friday night after he was discharged from hospital on Tuesday following a bike fall.

The club said the 42-year-old was "in good spirits" and would rest at home on Tuesday after passing a thorough medical assessment.

The Bombers are confident Hird will take charge against North Melbourne at Etihad Stadium this week, but he will be monitored again on Wednesday by club doctor Bruce Reid.

"Indications are that he should be fine to go Friday night, but we'll make a call on that tomorrow once he's had time to sit down with Doc Reid," Essendon CEO Xavier Campbell said outside the Alfred Hospital on Tuesday.

Hird was hospitalised with severe concussion after falling from his bike in wet and slippery conditions on Monday night.

Cycling home from the club’s Tullamarine base to his Toorak home, the Bombers coach fell near the corner of Toorak Road and Chapel Street in South Yarra.

An Ambulance Victoria spokesman confirmed to AFL.com.au a call was received at about 5.15pm.

The 42-year-old was treated at the scene by paramedics and taken to the Alfred Hospital in a stable condition.

"He's in pretty good spirits. Obviously last night he was a bit dazed and confused, but he's well enough to be discharged from hospital," Campbell said.

"James has been riding to work for some time now.

"It's a bit of a routine for him and probably an opportunity for him to clear his mind, [and have] some thinking time. He was just on his way home and got tangled up with some tram tracks and hit his head and knocked himself out."

Earlier, Hird's wife Tania told reporters on Tuesday morning she expected him to make a quick recovery from the fall.

"They've kept him in for observation and some testing this morning," she said.

"I don't really know too much to be honest, but there's no fractures which is fantastic and by the time we left last night, he was able to talk. He was dopey, very dopey, and obviously very sore, but he was able to talk and I think it'll all be fine."

The journey from the club to Hird’s home is about 32km.

Monday night’s conditions in Melbourne were not ideal for cycling, with an intense band of rain moving across the city around the time of Hird’s accident.