Pat venison medallions dry and lightly season both sides with salt and pepper.
Place flour in a shallow dish and dredge each venison slice lightly, shaking off any excess.
Heat vegetable oil or spray a skillet over medium-high heat until hot.
Quickly sear the venison medallions in the hot pan for about 1-2 minutes per side, until browned but not fully cooked.
Remove the medallions from the pan and set aside. Carefully wipe the pan clean with a paper towel.
Return the venison to the pan and pour in 2 cups of water to cover.
Bring to a gentle simmer, cover the pan, and cook for 20 minutes or until the venison is tender and cooked through.
Serve the braised venison medallions warm, spooning some of the pan juices over the top for extra flavor.