Place a medium, high-sided skillet over medium heat and add the olive oil. When hot, add the meatballs and brown on all sides, about 4 minutes. Reduce the heat to low and add in the tomato sauce and warm through. If the sauce becomes too thick, add in a little water.
Stir in half of the basil leaves. Lay the sliced mozzarella evenly over the meatballs and place in the oven. Cook just until the cheese has melted and the dish is bubbling around the edges, about 10-15 minutes.
Remove from the oven and let sit for about 5 minutes. Garnish with the remaining basil, some parmesan cheese, and a little red pepper flake if using.
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