For community-based organizations (CBOs) that have historically been the providers of long-term services and supports (LTSS), the change in oversight of managed LTSS (MLTSS) services from the state to managed care organizations (MSO) presents new challenges and opportunities. This issue brief discusses each of following opportunities that CBOs need to address when assessing their readiness to participate in an MLTSS program such as: their relevant skill set and experience, performance tracking and reporting, geographic reach and scale, and financial viability. CBOs are encouraged to complete a self-assessment before pursuing any of these opportunities.