Russian ski jumper injured in horrific crash at Sochi Olympics
The 20-year-old crashed to the ground at the RusSki jumping centre and was stretchered away off the course with his head in a brace and then on to hospital.
He was the 37th jumper to descend the hill.
In the aftermath of the incident, the training session was cancelled.
However, Alexander Uvarov, the president of the Russian ski jumping and Nordic skiing federation, said that Maksimochkin had escaped serious injury.
"There are no serious consequences. He has some damage to his rib cage," said Uvarov.
"According to the doctors, he will be allowed to go home on Thursday and he will receive more treatment."
Uvarov added that Maksimochkin will take no further part in the Olympics.
Maksimochkin's father, also called Mikhail, said that his son had been taken to intensive care.
"There are no serious injuries. He feels good," said Maksimochkin senior.
"He was taken to intensive care but this is normal practice during the Olympic Games."
Maksimochkin finished in 31st place in the normal hill final on Sunday, where Kamil Stoch of Poland took gold.
Stoch also fell on Wednesday and left the site with his arm in a sling.
Norway's Anders Bardal, the world champion on the normal hill, admitted conditions were difficult.
"The snow is a bit tricky in the landing area. You have to stay focussed," he said.
Training continues for the large hill on Thursday with qualification on Friday while the final is on Saturday.
Voice of Russia, RIA, AFP